Okay, sure, there were tons of problems with it. It started as a way to reset gear, offset market saturation and help discourage item buying. But it did many good things too - it gave some form of metric of your progression versus other players, offered that wonderful 'new' feeling of a new season (start from scratch versus new and improved content). It also gave Blizzard a way to introduce new items and some sort of progressive content.
Of course the D2 ladder would not work at all in D3 - no more 80-100 grind, RMTAH mucks up gearing and Inferno is meant to be tackled at max. All I know is I would like some form of progressive PvE and the very occasional way to start afresh alongside other players.
So - do you want Ladder? If so, how would you make it work in D3?