Let me adjust my statement: Within the current (bad) system the devs have designed, and without spending the necessary dev time and large chunk of the (presumably small) budget given to them by SE, this is the fairest thing they could have done.
We have to be realistic, they have invested too much time and too much money in the Wards system to justify scrapping it and starting over, and starting over is the only way they can fix the mess they've created. So, without them starting over completely, making it so the people that actually need the space (FC's) can get it over the people that simply want the space, was a fair choice.
Individual players can function just fine without a house. FC's meanwhile, are hindered by not having access to basics like gardening, airships/subs, company worshop as a whole, and the use of the aetherial wheel for fc buffs (which is helpful for smaller fc's that are lacking in credits.)
Common sense should also dictate that sometimes 'fixing' things isnt so easy when it comes to technical stuff, especially code. Common sense should also dictate that, even though they are getting all this money from us in the form of us buying the game, and paying the subs, they dont actually see that money.
SE gets the money yes, but the actual team that are developing this game don't see it. They are given a budget by SE, they are told "This is exactly how much money you are allowed to spend on this game" and have to stay within that budget when alloting dev time and resources. Some things are simply too much of an undertaking for them to do without making the game suffer in other areas. A complete revamp like the housing system would require (or for the spaghetti code to be rewritten) would be something that would have to be adjusted between expansions, and even then it would take away from other content they would be able to bring us in the expansion. x amount of money spent paying the dev time for working on the housing revamp that could have been spent on them developing new content.
It's a tradeoff.