Not sure how this would work as an MMO, but one in this world certainly has promise. We could play someone from the Elf Rebellion, trying to free elves, work the underground railroad... That or something way back in their history where the elves were defending their lands from the religious humans...AAA Players: "When are you gonna get "this" bug fixed?"
HH Players: "When is the next update? I can't wait!"
Along with HH being more stable than most games, there's really no need to install mods because the vanilla version is perfect as is.
The only problem with the "When is the next update?" crowd is that the question tends to be asked and answered often enough to get kinda annoying.
Just imagine if Runey decided to turn HH into an MMO? It'd make PUG's interesting, that's for sure.