I don't mind the dailies telling a story, but putting all Valor rewards behind Rep and then claiming that the rep grind is completely optional is a joke. Valor was always about spending your "bonus" points on gear to help you progress vertically, especially when you're on a string of bad luck and just can't get your loot to drop from other sources, in this case: raids and LFR. Outside of item upgrade (which is still fairly new and doesn't seem to be returning quite yet come 5.2), Valor is a complete waste of a resource if you don't do the rep grind. You may not have to get Exalted with a faction, that's for sure, but you better at least strive for Honored/Revered.