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.
Blizzard said last week that Torghast was inspired by roguelikes — games like Hades and Dead Cells, where each failed run rewards you with knowledge and skill that aid in your next attempt. Unlike a traditional World of Warcraft dungeon, Torghast has fixed levels with procedurally generated enemy spawns. The floors start simple, and eventually evolve into elaborate wings with traps, locked doors, and puzzles.
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.
The Shadowlands can be seen as a shadowy version of the physical world, and can be routinely visited as a spirit when player characters die. Governed by the Covenants, the four ruling realms of the Shadowlands are Bastion, Ardenweald, Revendreth and Maldraxxus (although countless others exist), which serve as the main setting of World of Warcraft's eighth expansion.