There is no need for a level generator, ppl will just keep going to battlefields.
But there's only so many quests that will be available. The main point with modable games of this style is that you can create your own stories, not just hack-and-slash maps.
One particular idea that Larians may consider is to allow us to define some simple quests and perhaps even enemies. As the battlefields are random, the random map creator can look through the custom monsters list and pick a few which are suitable for the level of the map.
This has some advantages over modding the whole game. First, there is no need to support the monsters in the whole game - Larians can be sure that the core game works. Second, Larians can always introduce new content to keep the battlefields refreshing and fun. Some maybe once per month the Larians release some monster which we can add to the battlefield.
As for quests, I doubt the quests in the battlefield will be very plot intensive - at best they will be 'fetch the axe for the woodcutter' type of variety, but please, Larians,
prove me wrong! Anyway, the developers could give us certain quest templates to customise. So instead of fetching wood for woodcutter, we can be fetching chicken for the colonel, sheep to the slaughter and what-not.