Hell yes it would!
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1.) By "old PvP" you mean modes or how the jobs are balanced?
2.) Let's not kid ourselves, Blizzard ever having an educated opinion on what they regret is a complete joke after years of sh*tting on player feedback and having lost their way of what made their game good in the first place.
Ironically, The Feast was more WOW Arena like as a gamemode and was the actual basis of how Frontlines ended up being balanced, more-so than Crystalline Conflict era PvP right now. If anything, they are caring for large-scale a lot MORE that they actually give us damage reductions to get our damage values closer to what we had in pre-6.1, with the addition of no-full-time reliance on Healers, tanks and healers can actually kill, etc.
I'd suggest we should build upon the current system to make it more enjoyable and leave the rose-tinted glasses of the past in the drawer, because man was it bleak without them.