Emotes are content, too. I couldn't care less about 270 accessories.
Sub isn't required for regular content updates, by the way. There are a few MMOs that knock that assertion down pretty handily. Note though that I'm not saying I want the game to go free-to-play, only that I feel that there is a line being crossed. If they want to milk us to this level with the cash shop, then I do not want them charging us a mandatory $15/month on top of it all.