Honestly? Don't see a problem with it. MMO's are far far to favourable to mass grinding, it DOES effect the community and warp it in pretty horrible shocking ways that are poisonous and bad for the game as a long term lasting endeavour. Things like this are good to see in the games, it does tragically however open up the MMO genre to even more people because it is accessible.
The fact that you have to artificially create this kind of balancing act is one of my key criticisms of the genre however.
Edit - And you can do MMOs without much/any end game content. City of Heroes is still chugging along and it has never really had it. You make the journey the game instead of the level capped content. It is a much smaller market though.
