I like legacy system a lot, I haven't played game pre 1.2 so to be honest I can't imagine game without legacy. That said, legacy system can and should be improved, cost of buying things should be be lower, and some things (like mailbox) should be included on starships from beginning. Paying 500000 credits for mailbox is just wrong, other stuff (like emotes, perks that reduce fleet pass and emergency transport cooldown and droid that sells droid upgrades) are OK as they are, tho lower prices wouldn't hurt.
Most important thing that should be included is cross-server legacy (or increased character slots per server.). With 8 character you just can't unlock everything even if you wanted as there are 9 playable races. Also game forces you to play as a human because after you finish you get 100 presence bonus, which is not a small thing, while with any other race you just get nothing relevant. Yeah, I get to play Chiss Jedi (and just on that server), whoop dee doo.
Maybe unlocks like that should be in achievement codex category and not part of legacy at all, in that case I would see the point.