Okay, let me try and sum up everything that has been said so far (multiple times) that I agree with.
1) The Living Story updates happen too fast. This would not be a problem if the content was permanent.
2) The Living Story updates are not meaningful to the story at large. This would not be a problem if they connected to previous GW lore. Additionally, they don’t affect the world at large.
3) The Living Story updates do not present meaningful achievements or challenges.
4) The Living Story updates are not well-written.
In case you are worried about incorporating GW1 Lore into GW2 for the sake of players who didn’t play the original game: I did not play GW1 and I do not care. Give me a chance to learn some of the lore from GW1! Connect it in a backwards fashion to what I’ve already experienced. That will keep me happy.