If we forget WoW existed for a second, I still wouldn't be interested in an MMO that's as rabidly popular as Facebook, and has a billion subscribers. I don't know about you, but I kinda like the crowd of gamers I play MMO's with and if all the ilk of social networking sites plagued my game with all the rabid fervor of Twilight I would feel uncomfortable around such outsiders to the genre.
And besides, the way he's talking about keep the game from intimidating new players by veterans? Please. The only way to do that is to remove tangible achievement from the game. If there were no gear, skills, or levels to work towards you've got a watered down console game that you pay a subscription for.
The only way I would lower my standards to play such a game is if the subscription was $5/month or lower. But even then, it would be a side-dish to the MMO's I already play. Not a substitute.