The only real "barrier" is just the fact you have to pay more money per month to have more characters. If you want to make an alt, do it. There's not really a good reason to do it, but if you want to go through the MSQ, level up, and unlock everything again, go ahead and do it. What is considered a 'big deal' or 'pain in the ass' is entirely subjective and therefore its up to you to decide that for yourself.