You are right, however there was one thing that prevented that from happening.
Alterac crisis, was after the Second War when Stromgarde and Lordaeron both wanted Alterac all for themselves. Terenas wanted to make Prestor the king of Alterac, but since he was Deathwing, and soon "disappeared", and kater it was taken by Syndicate.
Did you know that really small, and kinda strange kingdom existed? It was the eight kingdom, which I wouldnt call one.