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^ Pretty much this, though maybe with a bit less edge heh. WoW usually loses a chunk of active subs in the last few months in the lead-up to an expansion, yes WoW has lost subs over the years, and some of the million may indeed be people not coming back. But, when WoD launches, you'll definitely see an uptick in subs.

And as noted above, they haven't released any new content since Siege of Orgrimmar, which was quite awhile ago. I'm not in a HC guild, but we cleared Garrosh in ~April. My sub's actually lapsed for the moment, but I'm going to Blizzcon this year, so I'll at least check out WoD, just for the goodies I'll get for attending Blizzcon heh.