I've said this before but as these threads keep popping up I guess I may as well repeat it.
More options are always a good thing even if one chooses not to pick them. They absolutely should explore the notion of more new races, eventually.
They should, however, stop trying to churn out a new race to go with every expansion release, that just gets us more limited races and nobody should seriously be wanting a repeat of the train wreck that Hrothgar and Viera still are to this day.

What they should be doing now, especially after the mixed reception the graphic update got in regards to character looks, is work on making good on the debt they owe existing races.
This includes fixing Hrothgar and Viera and also things like expanded character creation options for older races. There's a whole laundry list of reasonable additions the community wants from things as old as highlander eyebrows to new entries like the new neon NPC haircolors.
And inexplicably that debt just keeps growing. Now that the dust on the graphic update has settled and some faces ended up with demonstrably changed models in its course bringing the old models of those faces, or as close as possible, back as additional faces is the one shot they have at reconciling affected users. Giving the artifact gear of all things the Hyur treatment for all races that are allowed to use headwear is not a great look either.

Once. or at this point rather if, they make all the races we have now feature complete I'm all for them working on adding new ones, especially if those are just going to reuse existing models and skeletons with an added gimmick that doesn't require them to remodel all the gear in the game again. Provided that they've learned their lesson and don't announce the new race well before it's done, rush out a half-assed incomplete version of it to meet deadlines and then take decades to maybe bring it towards a semblance of completion.
I'll be fine if we don't see a new race until 11.0 but if they announce a new one for 8.0 just to tick a stupid, expected box when it's clear there's no way they can even complete the ones we already have until then I'm headed for the shed to grab my pitchfork.