Many players started using marketplace like its stock market, buying low and selling high. It was pretty easy way to earn ten, hundred thousands of gold without much effort.
How many trades you saw asking item + gold, although item they wanted for it was in the same league as theirs. They just wanted quick and easy cash. And noobs were the ones who payed for it, with their hard earned gold.
This is a good way to put end to that.
As somebody who bought low and sold a little higher (still well under value) I can tell you that many noobs did not buy my items, in fact, most people who bought them (after quite some time, I might add) were people I recognized from the community, as already having a lot of money and generations. These were often the same types of people that I would buy the items from in the first place.
Often, these items would be heirloomed to be worth more money.
Why am I telling you that?
Because new players, the ones this change supposedly benefits, can not afford to do this like older and established players
still can.
Did anybody before ever gripe about the price on the market? No, because without the tax anyone was able to pick up a little extra money by providing a service... i.e. upgrading an item to a more desirable/worthwhile status, or just picking up a cheap item and posting it for a bit more, to help ensure that it'll be there for when someone wants it just a bit more.
I think people get mad when others buy cheap items in any marketplace, but it's actually a pretty valuable service. If people only purchased items they were going to use, prices would be incredibly low. You might say that's a good thing, but most people wouldn't end up with all of the +3's they have, as an example. Since items would not move as quickly, the selection would be very thin, and there would be no expensive items posted for that "gotta have it now" crowd who buy it on impulse.
If anything, this system is probably BETTER for me, since I have way more gold than worth of looms. Lots of people invested in looms long-term, and if the idea of deflation is going through, they're slowly going to get more and more screwed over in time. With that said I still don't like this system, as you have to be
actively trading to see any reduction in gold from it. I think it's been well covered that long-time traders still have enough gold/looms to make the risky calls and still make profit in light of this. I, as a small-time trader, am not willing to put forth the time/gold involved considering the risk and taxes, unfortunately.
Cosmetic items, I would say, are a much better solution. Most MMOs either launch with a known gold-sink, or introduce optional ones. I.E. player housing, when introduced, is a gigantic gold sink. Alternatively, some MMOs have offered programs where you delete all of your junk in exchange for points. These combat flooding, inflation AND are completely optional. Changing the status quo is not a good idea.