Blizzard Entertainment Working on a New MMO

Blizzard Entertainment has finally gotten around to announcing that they're currently developing an unannounced next-gen MMO.
Following speculation surrounding job advertisements on Blizzard's website, a community administrator has confirmed on the World of Warcraft forums that the developer is currently at work on an unannounced, next-gen MMO.

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The community administrator addressed the speculation on the forums succinctly, but said, "No, it is an unannounced Next-Gen MMO. And that doesn't mean an expansion for World of Warcraft either.

Earlier this year, Blizzard founding member and senior vice president of product development Frank Pearce told Gamasutra that the company had created a workforce titled "Team 3," comprised of about 40 members separate from the Starcraft and Warcraft teams.

Pearce declined to give any details on what the team might be working on, only saying that "Team 3 is working on something really awesome. I can't give you any hints, but it's totally awesome."
What the hell is a "next-gen" MMO?