Let me see if I get this straight. This expansion started with awful rep grinding that puts almost any previous such grind to shame, as well as an awful loot scheme that was designed to artificially slow down people from raiding so fast (I guess so we'd under-appreciate their big expansion design more, or some such silly reason).
Then, suddenly, we're not raiding fast enough, apparently because (big gasp) we aren't getting enough gear fast enough to start raiding. So rather than fix the problem, which was the awful loot system, they come up with another great scheme: the item upgrade system. Now, it STILL takes forever to get loot, only you actually are guaranteed to get it after X number of heroics, LFRs, and/or dailies because now you can spend VP to get better gear that you already spent VP on. Oh, but forget about raising the VP cap, obviously that would definitely allow you to move any quicker.
And now that new content is out... now they are yanking even the item upgrade pretense of gearing up from the game? Then we get VP dumped, and get to grind up AGAIN for gear with yet another faction, and our cookie isn't that JP mean a damn thing but rather that the old VP gear now costs slightly less VP, meaning you still get to feel like this game has become more of a job than it ever has, and the gear isn't a reward gating you to further content, but an actual obstacle to content because you have the usual ilvl bar to cross and it takes forever and a day to cross it.
So. What's next? Perhaps you'd like to randomly disenchant some raid or PVP gear right off our bodies, make us take a couple of steps back that way. Oh, I know! Let's add some new, extra currency or token to the mix. Nothing says our money is paying for some great development like extra currency to justify terrible design decisions, like the Lesser Charm of Good Forture, or Mogu Turds, or whatever you have to add to cover up the fact that you're not fixing the problem (lack of gear progress) by adding a new one (artificially denying access to said gear with some roadblock).
Very nice, indeed.