Op essentially making two points:
1) Too easy to level to 85
2) Normal dungeons too easy.
For point one, I think you may be on to something. Compared to WotLK, people are levelling MUCH faster this time than I remember. The fastest leveler took 27 hours, this time 5. Hardcore raiders are taking 12-14 hours on pvp realms, for WotLK it took them several days. So, yes, something is a bit odd there since the impression we got from Blizzard is that it would take the same amount of time as it did to level from 70 to 80 and by now everyone knows how much of an insane grind that is. Of course, many more players have ICC-level gear compared to say Sunwell gear than last time.
For point two, this may be highly gear dependent. I do not think the normal dungeons were designed for people with anything at more more than ICC-10 gear. So, this can make a big difference since most people would have been seriously geared up relative to that level after essentially a year without new content and easy gear from badges + events and pvp.
At the end of the day, it is just levelling to get used to your new abilities, do new quests, explore a new world, fill some holes in basic gear and get a general feel of the dungeons. The real test, i.e. whether Blizzard have failed or not to make the game more interesting, will be from the heroic dungeons onwards. So, if you've already committed this far to Cata, I wouldn't be too disappointed or give up just yet. At least you know even with a 1-month subscription, you should easily ding and be ready for your first level 85 heroic if not raiding.
If for any reason that one month disappoints, then get the hell out since you basically know that despite an enormous 2-year+ effort by Blizzard for the new content and a massive push to get people excited about it, they still failed. It could only get worse from there. If you've committed, give them a month, its worth at least that much to feel it out - at least that's what I'd do if I still played.