I think the respec system should coincide with the retirement system. It used to be that if you wanted a new build then you would retire your character which also had added benefits for the server. You would have more people caring about their XP and trying to level up which added more population to the servers and at the end of that process you got a sought after item that could help boost the economy a bit
I like the convenience of the free respec since i'm never going to retire again, but it does kind of undermine the whole retirement process for those who do. I'd move away from frequent free respecs and make it something you can purchase instead. I'm thinking of one free respec a month, then it costs in the region of the value of a loompoint if you want to respec again that month then it costs 2.5x a loompoint, then 5 etc. It would also help take some of the gold out of the economy that people are hoarding