Personally, I don't have an issue with a game co. wanting to make their own game. If ANet wants to make a theme-parky kids game that the MMO masses "just don't get", have at it.
But that's not the problem. The problem is Guild Wars already had precedent as a certain type of game. If they wanted to make such a different game on so many levels, they should have made their own friggin' game!
Kind of off topic, but w/e.