Drama

Drama, as applied to World of Warcraft most commonly refers to
 * "an episode that is turbulent or highly emotional"

that is, interpersonal conflict. In this case, drama most commonly refers to disputes between players, rather than between characters.

Any time two or more people gather, there will inevitably be disagreements. The more people, the more conflict. The most common varieties of drama encountered in WoW are:
 * Guild drama - where some portion of a guild disagrees with current policies or behaviors in some regard. This can lead to new guild policies, an exodus of players, or in some cases both.
 * Raid drama - as with guild drama, but contention specifically within a raid.
 * Loot drama - whether in a 5-man group or raid, disagreement over the division of loot.
 * Trade chat drama - as a channel with a large audience, some people troll for responses from the audience simply to get a reaction or to vent their frustrations.

It is rare but not unknown for dramas in the form of plays to be performed by groups of players.