In order to tell the story of WOT properly the moviemakers would need to really step outside themselves. WOT is really several individual stories wrapped up in a greater story.

It could be told in a manageable number of installments by splitting the stories and telling the journey of each main character independently, with simultaneous releases. You would begin with a "starter" movie which would be EotW. After that you would have to split the characters into different movies chronicling their individual (or limitied group). The movies would occasionally share scenes, but tell different aspects of the WOT story, until they all come back together for the LB.

I cna envision how it could be done, but it would be a major risk ($$$) for a studio (they would essentially have to commit to creating about 9 movies and 5 years of filming before the first set is built, not gonna happen), and asking a great deal from the audience with the release schedule, but it would be about the only way to tell the complete story of WOT.

Most likely any movie or anime depiction would get reduced down to telling the story of "RAND and friends", and suck hard.