It really is beyond horrible now. It was tedious before, but at least you were getting some stuff to keep it interesting, and make a little money in the process. Now, you get nothing for literally hours at a time, except the occasional piece of completely worthless trash or an angry critter to fight. I completed the Seeker Droid questline in order to acquire a Dreadseed helm for my Sith Warrior, but after this new change I've given up on it. I'll wear something else. Spending hours on Tatooine doing nothing and FEELING like I'm doing nothing is a horrible waste of my play time.
You've hit the nail on the head. At least the grey stuff we got was worth something. I was just trying the area in the desert on Tatooine (northwest of Outpost Thorazan) for 15 minutes and I got two grey items worth a total of 11 credits and a reputation point item. The GSI stuff is largely pointless -- so the reputation points are useless. And, the fact I am putting in this time and only getting 11 credits! Give me a break. I didn't mind the old version -- at least we got something for our trouble.