Since the merger, Blizzard has aggressively moved towards in-game real money transactions including one high profile fuckup where they irreparably ruined the economy of an entire game, ruining the game itself for many players (especially their older and more devoted fans).
They've scrapped their major next MMO, pushing it back and folding much of the staff into other projects while this one goes back to the drawing board.
They predictably released StarCraft 1.5, the graphics update, but StarCraft is a known commodity and they didn't have the leeway to make substantial changes without massively disrupting the playerbase.
I can't find a single product of theirs that screams character and love and devotion to video games like their classics do, but every single product does appear to be a financially calculated move to extract as much money as possible from gamers.
From this long time (and no longer) Blizzard fan, modern Blizzard looks more like Zynga than the company they once were. More interested in ARPU than making wonderful games.
I also enjoyed Guild Wars 2 -- the latest game by a team of ex-Blizzard staff.
* no RMAH (and as such, all the good items are on sell for gold)
* and huge moneysink in the form of dying characters (as such, less gold inflation)
Also, when you play HC, leveling up your new character is so much less painful with AH. Besides, I'd just by something @ d2jsp.
Their big screw-up is perhaps the Diablo III auction house. The idea is good, but it has spiraled out of control. The auction house is now the only viable way to acquire gear. Playing only serves to rack money, but reselling is as good a way to make money. Gear serves to play, to rack more money, to buy better gear. The auction house is now the game. You can do very well at the game without ever playing the "real" game. Not to mention that shelling a few euros on the real money auction house will save tens of hours of farming, and real money continues to appreciate wrt in-game currency.