I was going to post this here when I first heard about it on the grape vine, however I am not a WoW section regular, so I figured it better that someone with more credibility make this post.
With that being said, that's the exact impression I got from their announcement. I have never liked WoW mostly because I just never bought into it as a Pay to Play service (I know it's free to level 20 now, however getting there was way too fast. I felt like they were dealers giving you a pure hit to start you off and get you hooked, then water down the rest of the stuff you buy) however if they release this source code, I would probably look into setting up the emulator for my own private use.