Since PvP isn't worth it, considering the rewards are not good enough, aside from suggesting the gear from the vendors to be changed, I want to suggest a new PvP system.
The system I want to propose is similar to the PvP system of another MMO, Guild Wars 2.
Specifically, since some players have amazing gear while others are still grinding for some decent gear, the game mode is not very balanced. So, (at least in some maps) instead of using your own gear, players have to chose some specific items (from a big variety) with predetermined and balanced stats, and use it solely on the arenas (devices can be included in this system as well). This would mean a player with 1000+ hours on the game would have the same gear with a player that just hit LvL 40 with their first character. The difference between them would be the builds (power,stats,specializations) and the personal skill of the players.
I think this would make the whole PvP system more fair, more balanced and more fun for the average player, and balanced enough for ATs as well.
I can go into detail on this system, but I would like to hear what other players have to say/suggest.
Please ignore my user name.