All races move at the same pace. This is fair. A running lalafel and a running elezen move at the same pace. But since an elezen is three times taller than a lalafel, the lalafel has to move his legs three times as fast.
As a falafel, at a whopping two feet in height, I run really fast. I'm low to the ground, so the terrain really seems to zoom by, and my footsteps are very rapid wherever I go. From my perspective, I am hauling ass.
As an Elezen, six foot twenty (and killing for fun), the terrain doesn't go by so fast. And my footsteps are much slower. It makes sense - with long legs, I don't need to take as many steps or as vigorously. From my perspective, however, I am dragging ass.
If you're a career lalafel, the game feels faster to you. You may not be moving very quickly, but your perception is that you're running at a decent speed. If you're a normal-sized race, though, the game really does feel slow. FFXI was slow too - "running" was an acceptable pace, and "walking" was something you only did by accident. Most people quickly learned to take THF to 25 so they could sub Flee when they were just doing town stuff, and items like W.Legs and Herald's Gaiters were really really expensive and in-demand. Sure, that gear had all kinds of tactical value too, but "I should have those so I can kite Kirin better" is just an excuse for "Haha, the game is now at something like a reasonable pace!" With WotG, the community breathed a collective sigh of "frakking finally" with the release of Sprinter's Shoes: a cheap, renewable source of non-tactical movement speed.
If you played FFXI past WotG, you used Sprinter's Shoes - probably all the time unless you were fighting, crafting, or otherwise not moving.
People want to move faster. If they didn't, they would use the Walk setting all the time. Make Walk faster, make Run faster, and maybe even give us the ability to Sprint and Jump with limitations by Stamina or HP - when being chased by a pissed-off dragon, I don't find it very realistic that my only option is to slowly saunter away.