Has Blizzard lost it's way with Wow?

I've been playing Wow for 18 mnths but the game seems to be just so boring. It just seems to comprise of nothing but killing things to level up to move to another area and do the same thing... There is not 'plot' to speak of and the whole thing seems so..., pointless. Even after getting your character to 85, getting the end game gear is horrendous. You get 70 valor points per day and most items cost 2200 valor points each. It seems Blizzard want me to pay for as long as possible with very little in return..