As Blizz have stated that even if they only had 1,000 players they would still be making new content, I doubt this is the case. I think Classic is just another cash grab scheme for the company.
With as many people that play free servers, why not make your own servers, and whether or not it's sub based or B2P, that is still money for the company. Why continue fighting multiple free server based projects when you can endorse your own and make money off of it?
WoW also does not need saving. Yes, it is majorly down from its glory days, but it's not like it is on life support right now. We are more likely to see it go F2P before it's on the last legs.