I don't consider it to be P2W unless you're actually competing with other players i.e. PVP.
My only concern is if the cost they set for going the grinding route is being influenced by trying to get subbers to pay cash instead to obtain these items. That... I would consider to be despicable.
What would be the difference then with buying full Dread Guard set with cartel coins ? That would be P2W. And so it's this.