Blizzard's new solution in Shadowlands is to return the level cap to its original value of 60 and to make current content appropriate for levels 50 through 60. New players start at level one, and they all play through a new introductory zone built for Shadowlands based on the quest design lessons Blizzard has learned over the years. Once they play through that introductory experience, they can then level up to 50 to catch up with current content by playing through the previous expansion (Battle for Azeroth) right away (from around level 10).
This skips all the content before the previous expansion to give players the most modern experience from a quest design POV (and to make sure the players are connected with the current storylines). It also ensures new players have a shorter leveling ramp—Blizzard says it will be as much as 70% shorter than it is currently to get from level one to the cap.
Keep raising the level cap but crunching how much experience is required per level as you do. This is the approach WoW has historically taken. But as this happens, levels start to seem meaningless. You gain them ultra-quickly, and only a smattering of them actually introduce new abilities or other perks. It also means that you blast through the leveling content at such a pace that you never finish individual zone stories; you only finish a small portion of an area before you have outleveled it and are ready to move on.
Beings of death are ancient and powerful, and it is dangerous to meddle in their realm. When Odyn peered into the Shadowlands, he saw some of its inhabitants: souls in torment, the husks of the dead, ghostly wraiths with no face, and others with no form, all made of death itself. This was enough to frighten even him. Several races in the Shadowlands, such as the kyrian of Bastion, are souls of deceased mortals who have been transformed to serve a new purpose. If one of these former mortals is killed in the Shadowlands, they die permanently. Other creatures—such as dredgers and stewards—are endemic to the Shadowlands and are naturally born from the magic of death to serve the different realms and help facilitate the process of the afterlife. If one such creature of death is killed, their energy is recycled back into the Shadowlands, and eventually another member of the same race will manifest to take the place of the one that was killed.
Let's be clear where I'm coming from, here: I've been playing World of Warcraft almost continuously for 15 years. (I lapsed for a big chunk of the Wrath of the Lich King era for IRL reasons.) While I understand the appeal of WoW Classic, I am very much a proponent of modern WoW; the game has evolved over time to be more accessible for me to play just a couple of hours a week, as real life now dictates. But I tend to play solo or just with one or two friends on a sporadic basis, which means I'm looking for something very different than the hardcore raiding or PvP crowd.
Blizzard hasn't talked about what it plans to do after Shadowlands. I speculate that the longterm solution would be to do this every expansion—so in the next expansion, Blizzard might move Battle for Azeroth into the multitude of choices for new character-leveling experiences and push level-cap characters back down to 50 to start whatever expansion comes after Shadowlands—an odd hybrid of traditional MMO and a seasonal model common in plenty of modern multiplayer games.
It's hard to get a sense of an entire World of Warcraft expansion from 30 minutes of play. In my short demo, I recreated my main (a Beast Mastery Hunter) and played through the introductory quests from the Bastion zone, a heaven-like plane from Azeroth's afterlife. The minute-to-minute gameplay very much followed the formula of modern WoW questing, with a variety of tasks like challenging specific enemies to duels, helping craft things in timed minigames, and of course, killing 10 rats (well, not rats, but they might as well be).
Sylvanas Windrunner, fallen leader of the Horde, has pierced the veil between Azeroth and the realm of the dead, setting in motion a series of events that threatens to upset the cosmic balance between life and death. World of Warcraft players entering the fabled Shadowlands will find the realms of the dead in upheaval. Under the normal order, departed souls were delivered to a realm appropriate to the lives they led, but now, all souls are being funneled into the Maw, where the most wicked are damned to suffer for eternity. As they seek to right the cycle and uncover the extent of Sylvanas' designs, players will forge bonds with the Covenants who hold domain over different planes within the Shadowlands.