In all fairness to FFXI, during it's prime time, the idea of casual and hardcore didn't exist, well...mostly because hardcore was the mass majority of MMO's at that time.
I do agree with a couple statements here:
-The idea of casual and hardcore should not be a key factor into making a game. Content should not be revolved around an RNG system. Gear and rewards should be rewarded to the skilled players, not exactly the time investors or lucky. I can invest all the time in the world into the game, and I can still be a horrible player with nice gear. It shouldn't be this way, I want end game to be challenging like FFXI provided, and ended in rewards. Difficulty shouldn't be measured by time investment or luck. I believe a token system works for getting gear through content that helps get you geared up for raids that require that gear (Refering to WoW's system kinda.).
-What another person said was very true. If SE wants to go with the casual/hardcore balance, then they need to remember who are the ones who will most likely stay with them in the long run, the hardcore. The casuals do have a tendency to go from one game over to another, making them fickle. While that doesn't speak for all casuals, it is a common trait in the MMO community and if SE did have to cater to someone first, it should be the hardcore, but at the same time, don't shut the casual player out either.
I hate to sound like a broken record, but WoW did truly find a balance with casual and hardcore. You could get your valor points anytime during the week. In raids, you can only do one once a week, however you could put the raid on hold during the week, and your group can progress through it at their own pace during the week. You could either go hardcore on it and finish it in a day, or you could go the casual route and fight two bosses a night. It was your choice and your end result at the end of the week would be the same as the other person next to you.
This created influence that you didn't have to be on every day of the week. Not to mention, it wasn't time investment that got you the best stuff, it was the skills to take down the boss that got you the best stuff.
Overall, skill is what matters the most, not who is willing to put more time in than one another.