You're exactly right. Which is why people are mad. Some people got their full Battlemaster set by the time they were Valor 61, while others put in a lot of effort (as your title suggests) and have nothing.
See, let me put it to you this way. You work 40 hours. I roll a one hundred sided dice, and if it falls on 25 or below, I'll pay you for your work. If it falls on 26 or above, you don't get paid.
Your co worker works 20 hours, and has the same system. He rolls a 22 and gets paid, you roll a 44 and do not. He walks away with a check, while you are broke.
Sound fair?