I do think most contracts on offer will be rather mundane. For me, the dynamic world makes mundane quests more interesting. I find it frustrating to be asked to kill five wolves to protect the village, and see that since they respawn infinitely, I have not actually changed the wolf population, and the next player who comes along will also be asked to kill five wolves. The fact that killing five wolves will actually reduce the wolf population and change the circumstances in the village in Chronicles of Elyria means that even though it is the exact same task, it is unlikely to bore me as much as it does in other games.
As a scribe/bookseller, I expect that I will regularly be looking to buy paper and ink. But I won't have infinite gold to buy infinite amounts of paper and ink at a set price from anyone who wants to make a little quick cash. I will only be looking to buy more supplies when I've used up most of what I had or if I am offered something particularly rare or unusual, and market prices will change so I'll have to keep an eye on that, too. I will be doing the same mundane "quest" over and over, but I don't expect to have the same experience every time.
That said, in addition to the world story adding in unique and interesting quests, players will be offering contracts as well. Players who can ask for literally anything they want (within the limits of the game mechanics), and can offer whatever they want in return. I'm sure some players will get very creative with their contracts. That might actually give them an edge over their competitors, since players are often looking for unique experiences that also earn them a profit, so offering unique contracts may make them more likely to accept, or accept for a lower price. Since NPC's can offer contracts, but not agree to player created contracts, it's likely that a significant portion of the mundane contracts will be fulfilled by NPC's, leaving the more unique contracts to be fulfilled by players.