I think it's fine for those who play Feast only, since like someone else said, the real grind is gonna be for the top of the class rewards. But for the casuals, like me, who are going to play seal rock more than Feast (probably 70 percent seal rock 30 percent Feast), removing rank restrictions from pvp gear does take away the carrot a bit you know? I don't expect to really be able to achieve those rewards in Feast because I don't have enough time to really dedicate to it - and the time I do have, I'd divide it among the many different parts of FFXIV (pve, exploration, msq, frontlines, leveling new classes, etc.).

But we don't know what it's going to be like yet.. so whoknows? Just another week and a half and we'll see...