The max single target DPS with 463 ilvl pre-MSV was ~70k. The max single target DPS with 588 ilvl BiS SoO gear is 700k. Over the course of an expansion, DPS increased 10x, which is obviously a sign of exponential scaling.
A piece of 588 ilvl gear has over 3x the raw stats of the same 463 ilvl gear. Now, does the item squish in WoD stop exponential gear scaling in the current expansion? Will we be doing 10x the damage at the end of WoD compared to at the beginning of WoD? If the item squish doesn't address this scaling issue, we'll be back to outrageous numbers within two expansions, which would mean routine item squishes every other expansion.