Eventhough what you're saying is entirely true, and I think that atleast most of us will agree on that we strive for comptativeness. But what you didn't include in your equation is that 5.4 probably will have a negative impact on all F2Ps, with the insane advantage P2P'ers gets.
To be fair, no, no one has actually played a 5.4-BG to see what it's like in action, but judging from duels and arenas etc, all things seem to point to that it'll be unplayable for a non-P2P (MOST classes atleast) - way worse than Cata.
Now, for me, and to many others, I think, the choice is really between quitting the F2P-bracket, or gathering the advantages P2P'ers have. And I am no doubt choosing the latter.
I have no moral dilemma with this at all:
* I am paying Blizzard each month (x2 btw, both EU and US) - so I'm not really worming on someones elses' money.
* We all do everything to get an advantage already, getting heirlooms, leveling proffs, etc - just do be more powerful than the opponent.