It was worse because character builds became gear dependant, and then everyone screamed when they nerfed some gear. Most first generation characters had all the same gear and the characters were all the same. Every fighter had the following, spec ops, retribution. Casters had the wizardry gem etc. And everyone had the +3 stat items from TR. Everyone who had UMD had a golden cartouche. Now the items are there but they drop randomly, so someone really has to want it to go through the quest chain over and over to get it. Most of the items have been replaced with better items available to higher levels etc. Only the golden cartouche has no real equal outside a raid item.
The quest chains were great for those who did not care what quest they were doing as they would simply hop into a group and get some XP. But if you were trying to get the end reward it was hit or miss