It's giving a name to something that doesn't need a name, plus it's not really a system at all. It's just a relaxing of restrictions. They could easily just have said "Hey, we're giving you shared bank space, you can use any class to unlock transmog for any other class, we'll put all your characters on one login screen, we'll make most reps account wide", etc. Calling it a Warband system seems unnecessary. It's like if you have a gf/bf who you don't live with, and you decide to move in together, and you tell your partner "I've got an idea. I'm gonna call it the Homeband system. Instead of buying our own food separately like we do now we'll pool our money to buy it together. We'll get a single fridge freezer and a cupboard to put it all in. We'll hang our clothes in the same wardrobe." And your partner blinks at you and says "Isn't that just called living together?"