The majority of players haven't earned the mythiclast; they saved hopped and used an exploit to kill Aethon. That's not earning it, it's hustling.
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I got mine from effort and achievement. it shouldn't be nerfed. honestly, if you're in pve.. you're better off spending that slot on something more like ice breaker. and now that ice breaker is up for grabs.. expect to have more and more successful raids. the more successful raids the more people will have it. the more people will have it (because op has some seriously good points on that) the less we'll talk about it. I've beaten people who were using in in pvp, and I've been beaten by people when using it myself. it is not the end all. give it a month (quickly look at how long the games been out again... and remember this is the final game weapon.. and then take a breath) and it simply wont be such a big deal. give it another month and the expansion will be out with a new raid and new weapons to want, get mad about not having or being good weapons... I mean, who wants weapons that are awesome anyways.. that's just silly.