To put it simply, they've prioritized consumers over the community.
I don't mean consumers in the sense of people that buy things; we're all consumers in that regard. I mean the player-base that literally plays solely to burn through content and experience it, but isn't concerned with sticking around to talk about it or to repeat it. They're not simply casuals. These can be hardcore players too. People that play GW2 solely to obtain legendaries and ascended gear, to chase the carrot, fall under this group.
The group that plays the game to experience the lore, to come on websites like Guru and Reddit to discuss it, that share their experiences and enjoy reliving them---this is the community that sustains MMOs and keeps them around. These are the types of players that want things like guild halls, that don't really play solely to fill an objective but to build communities and participate with them.
The problem is that ArenaNet has been shirking us this entire time for the consumer base, probably because (1) it's more cost-effective creating cash shop items than creating community-driven content and (2) it's significantly more difficult overhauling GW2's theme park style content into something more sandbox-ish and player-controlled to support that community. This is in large part why we get bullshit like the Tournament of Legends and WvW seasons over real, genuine overhauls of this content.
It's the low-hanging fruit solution, but it's also the most immediately profitable. From a developer standpoint I understand why they do this, but from a gamer perspective it frustrates me to know that Guild Wars 2 could have been (and still can be) so much more.