Faction rep is like experience, so I think it's fair that you have to earn it separately with each character.
That being said, I agree that vanguard/crucible marks should transfer. You can transfer glimmer, upgrade materials, weapons, armor, and more between all characters. It doesn't make sense that you can't use marks the same way. Especially when you can only earn so few of them each week (100 max per character)
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How do you transfer glimmer ?
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It's automatic. You share glimmer between all of your characters.
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It's a waste of time being labeled as "In-Game Content!"
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What is a waste of time? I'm confused what you're taking about with that comment.
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This game is. OP has the description of what I'm talking about. To be honest, I'm done with Destiny. Their system is so damn tedious it's ridiculous. Everytime I get a weapon I like, I have to grind with it in order to make it good and now I have to grind all over again with the factions because I made a new class? Get the -blam!- out of here Bungie... This game is tailor made for people who don't have anything better to do with their lives and if you have responsabilities and enjoy the way the game is now (as far as all the poorly designed grinding) then you have poor taste in gaming.