I just find one point that is wrong in your post, open world content should drop good gear as well as "quality of life" gear, i understand some ppl don't want to feel forced to do open world content, the same way i don't want to feel forced to do instanced content to get the best gear, instead of having to do one thing or another, the best gear should be crafted with a mix of mats dropped in instanced content and open world content, this would also fix the economy and give a purpose to crafting classes.

Of course to make this work we must first get rid of this vertical gear progression system and the lack of class-job customization.