You wholly underestimate the ferocity of the classic crowd. Sure, a lot of wannabes that weren't actually there will make their attempt to survive the cruelty of it, but there's a strong following that are willing to abandon their emulated servers for something that will actually sustain and be around for more than 6 months. Myself included. And to say it was the worst wow is also very shortsighted. It's what made it what it is.
There's a reason emulated classics are hugely popular, why authenticity is key. Just because you don't think it will succeed, or that you may not like it, that it isn't something others might actually want and play, isn't reason enough for it to exist.
The only honest argument available is that they aren't allocating all resources to the existing game and further expansions, or new games is really all there is. And that's fair. But to discount the number of folks willing to dump $15/mo for a classic toon is misguided and ignorant.