Now I'm fully aware PvP is not a vastly popular thing in FFXI... virtually no one does Ballista.
But I personally thought Ballista had a great premise, and while fun and entertaining, it was a little cumbersome to understand and had no rewarding factor to participation. I feel this led to Ballista being all but abandoned as viable content, and it's basically non-existent today.
I'd really like to see some adjustments to the PvP system to breath some new life into the content. Some things to consider would be including new, simpler games to participate in such as "Capture the Flag" (self explanatory) or something like "Outpost Defense" (where one nation must defend an Outpost from having their flag replaced by the opposing nation).
I'd also highly recommend the revision of Ballista points. Where both sides are rewarded points in accordance to their participation in battle, but the winning side is awarded a bonus. Also, uncap them. 2000 total Ballista points is too low. You could use these points to purchase items and gear to use both inside and outside of Ballista. I'd like to see rewards similar to Salvage gear... entire sets that are multi-job with great stats and "set effects." It also may not hurt to make other sets that have Ballista only latents.
I dunno, I feel there is a lot of replay value in PvP content and it's not something that should be overlooked.