Blizzard has time to make useless things like this when pvp is a total mess, dailies issue is still there and its not getting any funner than it was before (more dailies in 5.1, yay!), and so many other issues.
Good job Blizzard.
I know a lot of ppl dont like dailies, and im not a big fan of them either.
However, what you just posted isn't making much sense to me (cant speak for the pvp part, since i dont really do much of that)
you say the dailies is still an issue, wich they really aren't since you are better of spending your VP on upgrading your gear, rather than buying new items from the VP vendors. Now if you have a burning urge to "waste" VP on items rather than upgrading current ones. then you should have been revered with the 3-4 factions providing you with that option, a long time ago.
Even if you aint, then the carrusel will actually help you get to revered since you will get a buff that provides you with 10% more rep (from both quests and killing mobs)
5.1 also introduced the commandations (i think they are called) wich you can buy at revered and help you get to exhalted faster, or save the entire rep grind from some of your alts. I, myself, managed to get around 5k into revered with Klaxxi just from doing the preQ leading up to opening the dailies, and doing the dailies once... Thats 1 day, and you are done. A friend did the same with the cloud serpents and got to around 9k into revered i think it was, but i will leave those out for this since they dont provide you with VP items.
If you are one of those that still think that you need dailies to cap your VP, then i say you are wrong again. Just from doing LFR you can get 450 VP, and from doing daily HC you can get 560. So just from those, you are capped.
If you are thinking about lesser charms, then you can also be done with those in maybe one day, or max of 2 days worth of dailies.
for more details of what the thoughts are behind this, i suggest you go and have a look at some of the latest videos over at tankspot. Both PST, the weekly marmot and legendary all talked about this i think.
And as i said, i dont know much about pvp. But i know that wow is primarily a pve focused game, and therefor the balance in pvp will always depend on the pve side, and not so much the other way around. If you are really into pvp, i would guess there is other games better suited for that. I myself enjoy a game called "SMITE" atm.