Its about as balanced as lvl 50's in the same PVP warzone as lvl 10s. This game has never had a glimmer of balance, there is the online single player story and then there is the abyss we call the "rest of the game". Crafting falls under the abyss of "we ran out of time so we slapped this together ASAP".
On that I have to partly agree. I have made a few WZ and then decide to completely drop it, until I am 50. The HP we have maybe the same but the difference in available skill make it useless to participate until 25-30 and at 50 at least you have equal potential.
Who had the utterly brilliant idea to mix people with different skills and level together, even with equalling HP ? Looks more like something they grafted later on without particular thought to it.