I think they know what a mmorpg is. There is no set rules on how a mmo has to be set up. Just because it is not a big wide open world like other games where we all share the same open world does not make it any less of a mmo. They meet every characterisitic of a mmorpg.
The game is great so far, they have done a good job with the IP in the early game. The only thing that time will tell is the end game and see how that holds people.