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I also used to think that the High Elves might appear before the Dark Elves. But I realized that if that happens, it will create even more inconsistencies. Firstly, in the lore, the High Elves have more importance than the Dark Elves. Secondly, judging by all indicators, the champion for the High Elves will most likely be some variation of the Faceless Ones. But the contract prevents them from fighting. The High Elves won't go into battle without a champion. I think that it is in the first expansion that the story will revolve around breaking this contract. Therefore, Railag will probably still be in charge of the Dark Elves (a faction is not a country. The future High Elves may still look like Dark Elves). Thirdly, it will be very difficult for the developers to tie the Dwarves into the story if the High Elves are released in the first expansion. Who should they be introduced with? With the Dark Elves? With the Academy? With FORGE :)? Just kidding (remember the April Fool's joke).
By the way, about Forge. On April Fool's Day, they announced a new faction - Forge. But it was an April Fool's joke. Concept art was created for Forge, which featured the Forge symbol. What does this mean? (no, I'm not going to prove that Forge will be added to the game). It means that creating a couple of icons is not a problem for them, and the icons that depict dragons (for the Dwarves and High Elves) can be thrown away. These are just dragon icons, not faction icons. It's just a hint... And the Academy and Dark Elves are the only ones with proper icons. This once again proves my vision of the storyline of the expansions, which I wrote a couple of posts above.