Imagine if Skyrim made you wait 24 hours to craft a new piece of gear, or do one of the main quests. Imagine if the Battlefield games only let you get X amount of upgrades each day or week. Imagine if Dark Souls only let you kill one boss a day.
In those games, the longevity of the content rests on how much you play. OP is saying WoW should be like that. Considering each of those games are still played, daily, by people I'd say it's not a bad idea to try out.
You mean like this 553 belt for 1700g on Quel'Thalas Alliance?
https://theunderminejournal.com/item...las&item=98612
All the current system does is gate the player power level until the content becomes trivial just like every other system. It doesn't happen any slower or faster than before, it's just more annoying.