The problem I ran into was having my Commando Healer dropped into Lost Island. This character came from a low pop server and hadn't done any flash points since Mando Raiders. Red Reaper would have been more appropriate for that character, based on gear at the time.
If they are going to keep the system as is, then perhaps they should give everyone a full set of Recruit PvE gear when hitting 50, just like the recruit PvP gear but with PvE stats.
If LFG is going to skip new fifties straight to Lost Island, give new fifties free gear appropriate to run Lost Island. It seems fair since new fifties are put into the 50 PvP bracket and given gear appropriate for that.
Someone who leveled up doing flash points might not need the gear, just as someone who leveled up doing PvP wouldn't need the current PvP recruit gear.
Lost Island is in a separate category to the other HM flashpoints (shares the same daily BH commms though). So if your not geared enough for it then dont select it on the main panel of the group finder, you will still get the comms.