I am of two minds.
On one, I do love new content. It can be fun and add neat things. (Then again I admit I am someone who spends most of my time just trying to get cute costumes and pets! XD)
On the other, it would be very sad if overnight all the gear people paid a lot of time and energy and money into are now worthless and useless. It ends up making it feel like it is always a grind and a race that only benefits really hardcore players.
I'd love to see more of the story, but maybe instead of the new gear there is rewards that help people improve their current gears more? Like more refine stuff. It may help offset the feeling of only the rich and old can break into getting good gear.