The server is live, nothing is being wiped from the game, content isn't being rolled back from when they go from beta to live.
I think we're getting everything as it was on Twow when it shut down is the goal. We aren't progressing through phases, they aren't resetting massive server events like AQ or Naxx. The end goal is to get the servers back to stable and current with the 1.18 version of the game on Nord when the shutdown was announced.
A better ask would be that they publish a clean client once it's fixed so that others can download and do with what they please.