Mind listing off past GW1 update content (not expansion) that gw2 doesn't receive for those who don't know?
GW2 updates generally contain: A custom mini-game of some sorts, run around and press F to inspect, run around and kill for currency/drops, story content delivered through instances and some NPC interaction, a short dungeon, an updated/revamped/new feature of varying sorts for some aspect (PVE/P/WvW) of the game, bug fixes/balance tweaks and some 'physical' changes to the open world map. For simplicity's sake, I'm counting things like the 2 patches in May as a single monthly patch.
By the sounds of it, you just want a shift in focus away from the "run around press F" stuff, which I totally agree with, but more specifically I'm wondering what they did in GW1 that you'd like to see emulated/improved on and brought into GW2.
While GW1 didn't get the constant stream of (abysmally worthless) content via any kind of Living Story, it did have Guild Wars Beyond in its later years. GWB saw the release of three different arcs of stories, each about equal in length to Flame and Frost, and installed in phases.
They all had great quests, well-written characters (mostly), dialogue that wasn't atrocious, and were more than worth it in rewards. Actually, the last arc of GWB, Winds of Change, helped cover around a third the cost of the second most expensive suit of armor in the game for me. There were a bunch of new weapons introduced and a couple new hero npc's (heroes being fully customizable allies you take with you for exploring and doing quests/missions).
It was all actually very challenging, fun, rewarding, and not horribly written. A stark contrast compared to the Living Story of GW2...
Even better though, is that with some of the GWB updates there were costumes released in the cash-shop. IIRC, they would cost $5 USD, maybe $10, and it would be unlocked for your account, able to be obtained by any of your characters infinitely for the rest of forever and ever. As opposed to ponying up, from what I've read, up to or more than 8 times that, to gamble for a chance at receiving a one-use weapon skin claim ticket.
These Living Story updates are atrocious and in no way live up to the treatment GW1 got. Which is hilarious, considering it was a pretty small team working on GWB, while the rest of ANet worked on GW2.