I agree.
The current max camera distance is just painful
I couldn't care less about seeing my character in all detail swinging his weapon for the 3489238482348th time.
I care about my surroundings... the world itself....the (hidden) stuff that's on the world to pickup....my enemies...and most importantly my party members...whether they need help..where they are standing in correlation with myself and the bosses/enemies etc.
With the new setting the game basically once again takes away a part of the mmo feeling since it gives you the feeling that there's only your character on the screen.