I think mmo's need to step back from this super focus on 1 character.
You are the chosen one.
I mean lets look at the situation.
Perma loot. soul bind. free respecs, 1-80. Game starts at max level. All this wasted 1-80 content, never reused. etc.
Diablo2. how many lvl 80+ chars did you have? 5? 10? 20? 40?
Wanted an ice sorc? reroll one. Wanted a fire sorc, roll one.
Pnp DnD. constantly making new characters. You were not supposed to make one and only one.
Hardcore games don't work largely because we keep getting games that make you too attached to your singular character, whose relative power at max level in max gear is too high.
Mmo's make all this content, that only gets used once. Never replayed. never tried new chars, etc.
when your game has an "end game", it basically means everything up to there is irrelevant. Which is a real problem as well. trying to start a new char after playing the "end game" is generally super tedious and serves no point. d3 has this problem for example massively. nm and hell modes serve entirely no point. and in general, getting an alt up to 60 for end game is just massively tedious. There is really no point for it. Any gear or whatever has no use, so you might as well just get friends to powerlevel you.
Focus should be more on the account. Characters and gear interchangable.
Swapping from the healer to the tank in seconds. I like GW2's stay in party when you log out and swap characters. Would be neat to straight up be able to swap in game.
Ditch perma gear. make gear more basic. dropping it, swapping it, etc is less important. No such thing as soulbound.
We do already have shared stashes, which is a start.
I'd get rid of free respecs. A must in a wowlike game, but I think that model is a bit of a dead end. 1 char who is everything to everyone is a mistake. Kills replay. Rift suffered from this obviously.
Constantly rerolling and twinking builds is a FANTASTIC way to keep people playing.
And ideally, 1-80 content should ALL be relevant in some way. GW2's downleveling is fantastic, if only it was paired with low level crafting materials being relevant, throughout the game.