I had this theory since Blizzard created xp-off. They intended to keep the twink community going even though they stated they hate twinks and really have there focus on endgame material.
Show me
one place where
anyone from Blizzard said they hated twinks. Dude, I get you're salty about losing gems, but just because you care about your twinks and you got your gems taken away doesn't mean Blizzard was out to get you.
This myth of "Blizzard hates twinks" continues to perpetuate over the years, and I'll bet people would actually feel
better if Blizzard
were out to get us, rather than for us to mean so little to them that Blizzard can casually nuke a piece of our history. That's what really gets people. The gems, the gear, the things that represent so much to twinks and Blizzard just whoopsie-daisies them for the sake of some minor but current feature of the game.
That aside, your theory is correct, and it was correct from the first days of the XP eliminator. Tom Chilton (game director of WoW at the time) explicitly said in an interview that they knew adding XP to battlegrounds would kill off a subcommunity of WoW players, so they intentionally added in an option to preserve those players.
To answer your poll question with a fourth option, No, I would not play WoW without twinking, but I would look back fondly on my time with WoW as one of the most fun experiences I had. Far from years spent "going down the drain", I learned a ton from my time in WoW that improved other areas of my life, and I had a blast with some great people.