WoW: Why player stats is getting revamped

Ghostcrawler, a Lead System Designer at Blizzard, has explained why the player stats is getting revamped in the upcoming expansion Cataclysm.

Ghostcrawler is answering a question from a unsatisfied fan, that thinks the whole player stat system is getting too simplified, and it's a poor attempt to streamline gear, or characters to make so much loot usable by all players.

Am I the only player who sees this as an over simplification of player stats?