Just cause you can't do something doesn't mean allowing it isn't elitist. For example, I won't ever make $1B, but if I think billionaires shouldn't be taxed, its still elitist.
And again, saying its wrong is just your opinion. I for one, enjoyed it. Don't have much time to play, so was nice to be able to gear up several toons quickly to help my buddies in NiM content when I got back into the game. Gatekeeping end tier content by forcing me to play ridiculous amounts of content is what drove me away from other MMOs. Again, personalized experience for me, but I only get to play 4ish hours a week tops with my job, so I very much welcomed the old gearing system.
Now you (and devs) might think that someone who can only dedicate 4 hours/week to the game doesn't deserve to have access to end tier content/gear but I'd say that's a pretty lame argument.