Agree to disagree.
Anyone who is doing this is doing it wrong. First up, if you've gotten KSM (requirement for upgrading to the current PTR cap of ilv 220) then you're already doing +15 which rewards end of dungeon gear at ilv 210. Upgrading from there to ilv 220 is about 3 upgrades. And yeah at 1k per upgrade for a 2H, that's 4 weeks of valor capping (PTR valor cap per week is 750 with a total cap of 1.5k so no hording Valor).
True, when the new season comes out, players will likely refarm the item because we'll have anywhere from 20~30 ilv base increase but you'll be refarming items anyway to stay relevant. What's likely to be a pain is regrinding KSM each season for each character you want to be able to have the upgrade ability with limits removed.