There is other content which they could cut, if they wanted, to deliver said dungeons. Yet they haven't.
Personally I would agree that the focus should be elsewhere, but I'd say it should be on enhancing character customisation options and implementing the high res textures. At the same time, I don't blame people for yearning for the missing option for each race. It's a bit lame to do it in halves.
The lore doesn't preclude them and allows for playing such rarities as male mooncats and WHM. So...