I agree.
For me, I stopped caring about this sort of thing when ANYONE could get scouts tabard. Also the fact that since Cata on, it seems as though I can run around org with dual fangs, full GFd gear with Talbar etc and not a single person will ask or chat. I do miss being asked about my twink and standing out from other 19s.
It's funny... People think of my rogue as being so old school... Yet my main rogue (in my signature) was actually the first Mocha and one of the most recent twinks I've made (besides other Mochas). I actually have 2 GFd Mocha rogues at 19.
Before that rogue I can't tell you how many other twinks I had made through the years of TBC. Not to mention Twinking back then in itself was MUCH more difficult as you really needed GOLD and dedication to make a twink. If you were able to self fund your twink at level 19 on a realm without a main (something I did 4-6 times) it seemed like an impossible feat but really showed dedication and proved to be a huge challenge. People used to acknowledge the time and effort gone into making a twink, I agree with you there... But these days people don't even know what twinking is. Back then it was a full sub community with multiple guilds on nearly every single realm, bouncing around STV, Thunder Bluff... hell, we even used to take out Halaa on level 19s and used to beat level 70s on our 10s. Today in US we have a small handful of twinks on BH and 1 other realm for the most part... And to be honest with you, recruiting new twinks is much harder these days because it's not NEARLY as fun as it used to be... Between constant premades, instant WSG queues with anywhere from 3-8 10-19 WSG battlegrounds going on at any given hour (back on Vengeance). Not to mention, in order to be a "twink" all you needed was maybe a cruel barb or 2 with fiery and good game... and even that took a bit of work for a horde player to obtain.
I agree that I miss the value that being a twink used to have. But today we aren't even recognized or acknowledged (partially due to BOAs being everywhere) but only a small fraction of WoW players actually even know what twinking is, and to me, that is an issue I'd like to solve as it would make the "BOAs = twink" opinion completely void.