A lot of people had faith that the developers were competent enough to figure it out. But I would surely prefer BLU never be added to the game over this sad freakshow of a job it's been relegated to. At least then this waste of development time could have been used to make a real job. Or improve the expansion at all.
There was absolutely something said about BLU not being allowed to raid. Did you not pay attention during the panel? Yoshi P specifically used a terrible example of Death 5 being able to one-shot bosses in current content, seemingly forgetting that the developers are the ones in control of class balance and could, you know, make that not be the case. As it currently stands they are designing BLU to be incompatible with future group content, hence it being billed as a 'solo' job. If they are content to leave BLU an un-tuned mess, then do you really think it will be allowed in raid content? So yes, it's very much based in reality.
What 'hybrid possibilities' are there in grinding trash? BLU is not just it's FFXI incarnation. Besides, BLU learning it's abilities has no bearing on whether or not it can be balanced for all content. It's simply a slightly different way to level, but that part of BLU is a temporary venture at best. Eventually you will learn all your abilities. BLU has to be more than simply learning shit, and being relegated to coliseum matches and old stompable content on older jobs is not worth all the effort one has to put into grinding RNG abilities.
Gee, let's compare. BLU who can only access old content + a gladiator arena or a BLU who is designed properly and can access all new content going forward in every future expansion at the time of release? BLU as it is now is a novelty that will wear thin within a month. Being able to play the rest of the new content as it comes out will always be more fun than being relegated to the circus.