Sure, but then you also have to consider Ironforge, Gnomeregan and so on, and the whole "medieval" idea just goes right out the window anyway. For that matter, the Airships are probably Dwarf/Gnome cooperation only crewed by Humans.
Stormwind by itself is closest to Renaissance. The rest is mostly more advanced, with the two Elf factions going a completely different path technologically, relying much more on magitech. Kul Tiras is obviously built off the Hanseatic League, though with some WoW-specific influences. (I'm fairly certain i didn't see any widespread octopus imagery last time i was in Hamburg...)
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It doesn't look like it's meant to land, either.