Exactly. WoW, for example, provides system updates for every major expansion that keep you in the game. While there are new races, classes, and quests/dungeons/raids introduced, any system updates that would change how the game is played are given for free. Sure, give us new missions and areas to play that we'd pay for, but making you pay to raise your level or gain extra bounty slots is bogus.
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WoW players pay a subscription free monthly. $15 a month if I remember correctly. Or close to it. $15 times 7.5 million (per month). That's a whole lot of moolah to throw around per month on adding new content.
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They also have dozens of players per instance (not sure on exact numbers) and offer more substantial free content updates between expansions. It's an even tradeoff.