My son used to play what I believe was the standard version. It was “free to play” but you could buy currency to spend on repairs, new tanks, ammo, etc. It was indeed just an arcade game where you drove your tank around with the rest of your team, shooting at the other team’s tanks. No real attempt at realism aside from the tanks supposedly looking like their namesakes.
He said it was fun until rank 7 or so when you hit a wall and pretty much need to start paying money to make any progress. You’re matched against people with much more powerful tanks and any money you make in the match goes right back into repairs and ammo so you don’t get anything new until you pony up.
I had a massive Wot addiction for about three years. Never played Blitz though. I stopped a couple of years ago so some of my points may be a little outdated.
The learning curve is steep and the official documentation hilariously inadequate. Usual concepts of balance and fairness do not apply. Some tanks are plain awful. The grinds at higher tiers are ridiculous. Artillery is fundamentally broken. The lower tiers are infested with sealclubbers rolling in over powered tanks fully equipped with amazing crews. The monetization model is the most blatant I have ever experienced. But it’s the most fun game I’ve ever played.
If you want to give it a good go pick one line take it to tier 5 and stay there until your commander has sixth sense and you feel you’ve got a decent grasp of how things work. The KV1 line used to the usual recommendation.
Oh and as to your actual questions. Wot is a game not a tank simulator. But it definitely gets better after tier 4 or so. But there’s no real end game. Tier 10 is no more fun than tiers 5-7. I never got into the truly competitive team play but low level team stuff is a lot of fun too.