What WoW is doing wrong, is that it did not cater to the new gen of gamers that are joining the game the last few years and have basically shaped the "RPG" genre part lately.
People grew up with a different mentality and experienced the game differently, for me WoW Vanilla has a very refreshing game compared to the shitshow of Asian MMOs from the 2002-2005 period with their endless grind.
People joining WoW now grew up with Skyrim and similar single player games, or ARPGs and similar things, its understandable how they will complain about a game like WoW, where its existence is to reach endgame and raid, and not do pointless Sidequests in order to outlevel the Main quest to make it easier, so yes, i totally understand how the now 20 year old buys WoW, plays a bit, reaches max level and is confused as to what to do cause thats not what he knows from a "RPG".
How people want WoW to be, is how i use Guild Wars 2, as my single player game experience, cause i know what WoW is about and i play it for its endgame content part, the raiding and the dungeons, not the story, i have GW2 for that.
I played ESO a bit 6 months ago, its similar, full on pointless single player game experience in a MMO, and FFXIV is the same, i cant play FFXIV cause i hate the art style and i never really liked JRPG elements, despite being asked way before it became famous from people i play with to try it out.
What WoW needs in order to cater to this new type of entitled spoiled "Gamers" is to convert all the old content into a storyline with scenarios, the work required for that is near impossible so its not surprising its not being done and they keep doing what they do best, raids.