Yep, I believe that's the way to go, 10-20min shorts with Overwatch/Hearthstone-like CGI and light-hearted topics.
I don't think they should be strictly canon, they could maybe do arcs of 4-5 episodes showing a group of quirky adventurers running a raid.
If they wanted to pursue a more serious route or make longer episodes, I'm sure they could produce an amazing 2D series like Castlevania. It'd be a great way to turn Chronicles into a more digestible story that more players would watch and learn about.
As for movies. I don't think they want to invest a lot of money into a two hour WoW joke or an adult animated film that nobody will watch. And they already tried a live action one that, despite its flaws, was about as good as it could have been, and it wasn't successful. It's a very limiting media for a fantasy universe, and GoT has proven that episodes give a lot more flexibility and time to tell stories with that much world-building.