Wrong. The physical level and the stat point allotment, with the limitations in place to respec serve the purpose of pushing the player towards a certain degree of specialization, while still keeping versatility.
I can understand to a degree how that may work, but when I have to wait over several hours to "respec" my points so I can play my mage class with any degree of potentcy, that's not exactly "versatile" to me. In a game that allows you to play all classes on a single character, it shouldn't be so cumbersome to switch between them. Yes, you can grind out marks to get the traits that swap your stats for classes, but honestly that's just a pointless system to begin with. Why not include that by default? Why make me grind so that I can actually use this system?

First you complain on how physical levels and respec limitations don't let you plass every single class at it's best, and then you complain about lack class uniqueness and specializationn, which is basically the opposite.
It's not that you "can't play every class at its best." It's that if you want to play or tinker with multiple classes you have to play all of them at its worst. The current system doesn't allow for much diversity in switching classes without arbitrarily punishing the user. Playing as a severely gimped conjurer because I decided to level lancer earlier that day does not make it "unique" or involve any specialization. And what exactly is wrong with wanting to play a job at its best? This was easily accomplished in FFXI by switching classes. It's not exactly playing every class on a single character if you're "pushed" into a single role amongst all of the classes and then penalized when you want to change that role.