I watched a bit of the livestream. A lot of it is stuff that should have been released a couple years ago, I think. I personally think they were lazy about implementing some new features, and they're finally getting around to it since they're bleeding subscribers.
Alas, I'm enjoying FFXIV too much to go back to WoW. Didn't like Pandaland (although Monk was fantastic as a class), and WoD just felt like more of the same to me, garrisons notwithstanding.
This looks like the first expansion since Lich King with any kind of meaningful change.