I'll still be here, enjoying my game. As will my guild. And our Allied Guilds. As well as those who already invested time and money on the enemy faction.
Think about it this way. If your a newbie 50 and the first 20 or so PVP matches you enter you lose (not just lose but get facestomped) you would get discouraged, and being discouraged would make you unsub.
So say you don't unsub at that point and continue on to try and get gear to level the playing field. If you continually get rolled you wouldn't earn as many medals and the grind would become unbearably long. Again, another reason to unsub. Unsubs mean less players to PVP with. Which makes Queue times longer.
Equalizing gear does two things; It makes it so people are willing to invest more time into PVP (making Queue times less of a burden, and makes sure you do not have warzones shut down mid battle because of lack of players), and you ensure that those who are actually good at PVP still rise to the top, and have proof to point to for bragging rights.
Remember; you can suck at PVP and still get BM and WH sets. All it takes is time. Even if you lose you still get valor and commendations. Its inevitable so long as people keep plugging away. If you really want to be elite then a ranked Warzone is the way to go, instead of some silly armor that, given enough time, everyone in the game has a chance to get.
I know change can be hard, but no MMO remains static.