From my casual Andy perspective that is pretty much already in game. Korthian gear can go upto 233. So that instantly nullifies all content that i have the time or inclination to do. Trouble is that you have to grind up horrendous amount of stygia to get the item with the right stats that you will upgrade and then a ridiculous amount of research. So much so that is all you will be doing and it is boring as fuck. You have a couple of hours to spare and you have to run about the Maw/Korthia doing that terrible content? I mean it beats raiding i guess but you get sick of it fast.
They would have to find some fun content that you won't mind grinding. I don't know if that is possible in wow. They pretty much drop the content and go have fun for the next year doing it. Then the raiders won't be happy that the peasantry is getting gear comparable to them. They will go fucking mental at the very idea.