The ASAH was a great idea and it would still be if certain players weren't abusing it.
The ASAH has become a money laundering system where cheaters can profit from their cheats. The regular AH doesn't reward cheating so much because of the plat cap. But there is no shard cap, cheaters are accumulating 10K plus shards. I heard one cheater had 50K and was bragging about it.
I understand the ASAH was put in with good intentions but you are just encouraging the wreckless and willful destruction of the endgame loot. New players will quit because the economy is ruined and they can't earn in game money fairly. And old players will quit because they can buy all the stuff they need from the cheaters who are laundering it through them and profiting hugely.
Seriously, if Turbine can't figure out who the cheaters are by just doing a search of who has 10K shards and has never spent a dime on the game... Maybe, they are donald trump in the art of the deal or maybe they are just lucky traders... yeah right!
TLDR- The ASAH rewards bad people by making it easier to convert/launder their illicit items into whatever they want and it grants them anonymity, before the ASAH they had to make their trades face to face and risked getting caught that way.