Having played both extensively,GW1 from Factions and GW2 since release I cannot understand how you can compare GW1 and GW2 and come to a conclusion that one is better than the other, they are very different games(GW1=build wars, GW2=Directional combat system in an open world). You are comparing them by the time spent by you on each (Which is fair enough but entirely subjective). I could argue that I will spend far more time playing Gw2 than I did in Gw1 for the first 8 months I owned both but it doesn't prove that one is better than the other.
Some people that came from Guild wars 1 have left Guild wars 2 because it is not the squeal that they wanted, which is fair enough. The only common ground between the two is the lore. I agree that the end game content could be expanded more quickly in guild wars 2 but you have to remember that it has only been out for 9 months, and recent leaks indicate that the expansion is already being worked on.
The actual content being released monthly for the game is fairly substantial but it's problem is that it doesn't keep people logging in like say the gear treadmill in WoW. While the monthly update content are good, I would like to see more WvW and Lvl 80 content , like new zones(Southson cove being one recently updated) and objectives in WvW.
I am almost certain that the expansion for Guild wars 2 will focus on expanding content for current level 80 characters by maybe introducing new skillbars, high level zones, PvP etc.. and new content like classes and probably a new race with new zones.
For the time being I would be happy with how the game turned out. It is not a game that will keep you playing constantly for 9 months straight but it is not like you have to. Traditional MMO's would need the subscription revenue to survive, whereas GW2 has a different P2P model. I would look at it like this, do you think you have got value for your euro in comparison to other games. For me I easily have.