So, does 5.0 wipe out the previous story or make it obsolete in the way that other expansions have done the same to previous content.
There are two elements to this question, story impact and logistics. As we have mentioned in the past, Eternal Thrones story is going to be a continuination of the story from KOTFE. For that reason, we highly recommend that you play through all of KOTFE before jumping into Eternal Throne. The choices that you made throughout this expansion will have consequences that you may not have seen yet!
Logistically, the plan right now is that you will be able to jump straight into Eternal Throne if you want to. However, as with past expansions, we would choose templated story choices for you to catch your character up. For that reason, again, we highly recommend you play through KOTFE before jumping into Eternal Throne. We will definitely talk about more details like this after the announcement on 10/7.
-eric