I am not sure with a game this age and of this size, there's a legitimate big concern that an illicit sweatshop is going to gouge sell accounts which applied the free content code. I'm not sure a huge demand for such a thing exists.
At any rate I think the harm such a thing could do from its tiny scope is trivial compared to the good that can be done for the game by attracting in and keeping new players for the playerbase by letting some in without saying "hey by the way, just so you know... you are going to be facing not just a huge grindwall, but a huge paywall as well, even to join public questing."