A few months ago they said a new level cap and new continent was going to be introduced eventually. I don't know anything about developers having left, but I wouldn't be surprised if they have the interns or janitors working on the content anyhow.
They recently described a bit about how their team works. You can read about it
here. Doesn't sound that bad to me.
What's certain though is that the game in our market is dying. New content or not, most of the seasoned playerbase has already moved on, and I doubt they'll be coming back. Nothing has been fixed, and even if it is at this point (which I highly doubt), it's a bit late. And the game is being overrun by foreigners who don't speak English anyway. When everyone you know spends over 50% of the time complaining about the experience of playing with these people, you know you have a problem.