1st of all there's nothing here about "buying" past lives - I didn't advocate for them to be put in the store OR to be buyable for plat either!
Secondly - This would equate to an {hopefully} Equal Grind as the current past life system. Only it would be a grind through Legendary Content rather than heading back to Lvl 1 over and over and over again.
In fact considering how many people constantly complain that heroic content is too easy and seeing that many people have completed past lives in 3 days or less there's a good chance this would actually be MORE difficult than the current system.
But the thing is it would give players a CHOICE!
So if a player loathes playing a Druid or doesn't want to change race to get through Iconic lives that player has another option to get the benefit.
Yes this should be the same bonus type as Past Lives so the two do not stack.