ACtually I do. The "cartoony" look you want to get rid of is what I call stylized. and for the record, I never claimed oyu wanted CoD graphics. The reasons for it beeing "cartoony" is several.
(Disclaimer: I am not a programmer or designer, so this is mostly guesswork on my part.)
-Less of uncanny Valey (Not a big issue, but hey, a game that aimed for millions had to take that into acount when settling on GFX style.
-Less info to and from server. (This is mostly physics related, i'd think)
-Easier to run on older harware. ( A BIG reason)
-Refrain from looming to outdated to fast. (A lot of very old games still look decent, due to a stylized art choice)
-Size
So no. fo a MMO that is few years old I think it look decent. On the other hand, they could do a lot of more work with animations IMHO.