Idk about pve since that gearing treadmill seems like a nightmare. But pvp i do it just to keep up with others. So i dont die quick and my damage is still strong.
Its the perfect lvl of slowness where i can gear multiple pvp chars and have fun.
But ya the treadmill is part of wows design. Unless they decide to go with horizontal progression i dont see this treadful treadmill going anywhere.
But imagine if all ur gear was still useful and u only played for transmog and achievements instead of making numbers go high. Would be pretty relaxed like gw2.