Maybe it is “unfair” that the high-level kit many players worked their butts off to get is now easily obtainable via The Hunt. But if that’s what makes it fun for some players, so be it.
I don't think this is the main problem (it's something I don't like, but that's subjective).

The real problem is that it encourages spamming stuff with 60+ people. There's barely a fight, and there's certainly no challenge. It just seems so entirely pointless to me, other than as a way to get gear. I really see little difference between doing hunts and having an upgrade button you can press to turn you i100 gear to i110 after having spirit bonded it to 100%.

If SE wants to adopt a system of gear with updates... I don't love that, but I get why they would and I can live with it. Just make the way of getting the new stuff at least somewhat interesting. Let people do something, anything, more meaningful than poking mobs with 60 other people for five to ten seconds.

I want fun fights in this game. I think that much is something casual and hardcore people can agree on, although how hard the fights should be might be answered differently by each group. But do any of you actually think that hunts result in fun fights for either group? Seriously, the only thing they result in is gear. And people like getting shiny new stuff too, sure. But it's really empty if you're not doing anything to get it.