The world of Might and Magic – the world of NWC – is now dead in Heroes 5.

Gentlemen, let's differentiate the concepts. The game is being made based on the gameplay of Heroes. With significant changes to the gameplay, but the foundation is largely preserved. Based on this, the game has the title Heroes of Might and Magic.

What's wrong with the title Heroes of Might and Magic New Age? There are no illusions. A completely new world with all the consequences.
And Heroes of Might and Magic V is a continuation (including the storyline) of the Might and Magic series.
If, for example, Blizzard releases Diablo III but without Diablo, Mephisto, and Baal, would you also call it "a game based on the gameplay"?
You are the one differentiating the concepts. Heroes 1-... These are the heroes of Van Caningham. Heroes Something-or-other - go ahead. No one will say anything bad about it.
But as it is, everyone is waiting for a continuation of the story, but there isn't one. See White Hawk's post.

Furthermore, there is copyright. There is the name of the series. Making a game "Heroes 6" or making a game "Something-or-other 1" are two very different things.

And no one is saying to make "Something-or-other 1," they are saying to make Heroes, either with the old storyline or remove the number 5 and change it to something else.
And to use terms from Caningham's world in the New Universe, such as Griphoheart and the monarch's name Nikolai (Ironfist):eek: This is *censored*. I initially bought into it, and then I found out what it really was:mad: