It's kind of a question of what kind of subreddit you want to have. Easing up on the restrictions may very well open it up to memes and low effort content, but shitposts are the backbone of a big internet community at this point. So if you want a more light-hearted "popular" subreddit with an active community - of twitch memers and shitposters and the like - then some of these restrictions should go. But if the community is to be a little more serious and smaller and discussion based, then pretty much none of these should be touched.
That said, while a community can circlejerk its way into a hatewagon that overrides any reasonable discussion (/r/hearthstone), that isn't to say that reasonable discussion completely disappears. It just sort of becomes relegated to discussion threads.
Basically, I'm asking if you want this in /r/wow. It's not a question of whether this is "good" or "bad", it is a question of preference.