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"In 6.1 we’ll effectively revert lapsed accounts into a Starter Edition “mode”, with all of the same restrictions."
So, in a nutshell, anyone who has ever had an account in WoW, come patch 6.1, will automatically have a "Starter Edition" of WoW account created for them. Meaning you can play any level 20 or less toon (with restrictions) for free. What's unique is you can now actually play any existing toons that are level 20 or below and can join a guild that contains other characters of yours that are currently guided.
That's it. Nothing else to see.