In a way, the game was already pay to win before the space items were put on the market:
My colleague has spent hundreds of dollars on cartel coins because he likes buying cartel packs. He keeps a few of the items he gets but he posts most of the items on the GTN. He's made about 20million credits from this. I pointed out to him that he could take that 20mllion credits and buy lvl63 mods (or the mats for crafting those mods) and become almost fully geared for the hardest PVE content from scratch in a few hours.
Summary: atm the game already contains a pathway from real hard cash to best in slot gear
Completely agree. There was a thread on this and the long term effects on the SWTOR economy.