I think they are right on the mark. WoW came out with cartoony graphics, a really high fantasy story, enormous weapons and armor, etc. I'm not sure it was even originally designed to be all that serious. People just got serious about it because they invested a lot of time in it.
You can probably chart WoW's step back from the brink soon after the Southpark episode aired and the Blizzard execs came to realize that maybe they needed to cater to a more broad fan base.
That is just my perspective from the outside though. I never really got much into WoW.