Most people didn't have time for 10 hour grinds in EQ either. The minority did. The rest of us didn't but still enjoyed the game because at no point was a 10 hour grind even remotely necessary. It was a luxury that a few had, most didn't, and I think gamers should be okay with that. The problem EQ had is you sometimes spent your entire gaming session just trying to get somewhere, or if you made a decision to go to one continent you were often screwed if your friends were at another (obviously earlier in the game and at lower levels). You can let getting to the action be easier to make smaller chunks of play time more feasible than simply making content all fully digestible in 2 hour chunks.
It's one of the areas I think Vanguard got right. You were rewarded with longer play sessions, of course, but the general cockblocking of getting places wasn't as bad (once they fixed the dumbness early on). If you only had an hour to play you could still get into a group at times because the game provided tools to do that; most importantly imo is all healing classes could summon players to the group once they were in range which allowed large, complex, open dungeons that were still accessible. Then you can have the exploration and vastness of a meaningful world and the 2 hour bite-sized chunk of playing time they're going for without everything being overly simplified.
Whether they can find this right balance is of course the key. Anyone can say 'meaningful travel' and perk up the ears of a thousand neckbeards. The reality is obviously how they interpret and implement all the buzz words that are awesome in our imaginations but maybe not so much in reality.
I think they're going to probably shit the bed when it comes to implementation, though. We're already seeing signs of over development. For instance, they want zones and the environment to be meaningful. Instead of just making a landscape that is worthy of respect, like in EQ with cliffs and tight areas and fucking open holes in Solb that led to a fiery death, they're already trying to hype up shit like a zone that has a certain energy and you have to have the stone to harness it for combo spells and shit. They better focus on basic design, as that's hard enough to get right without the over-design bullshit fantasies they're already talking themselves into.