As long as you aren't dying, gear wear is almost unnoticeable as it is. Except for weapons, of course.

It exists as a gil sink. One of the very few we have. And it is horridly innefective since its impact has been significantly reduced and the price of repairs has been drastically lowered. Further reduction would all but nullify the impact of gear wear.

If anything, I think they should re-increase the severity of it.