I personally have not a single problem with the actual crafting system.
If find it fun, (ok, I'm playing an "average guy") to be able to craft my first own stuff (even if it's shit) in the first levels. Then I got myself the first Armorer and Small Guns Profession. I crafted some combat leather jackets, had fun going all over the worldmap searching for it's compounds etc. Then, the first guns could be crafted. As I reached a higher level I was finally able to obtain HQ materials. And this part is really fun for me. All the people there (or the most) are coming "naked", just with a sledgehammer. Even if I dislike PK in general, I mostly shoot those guys. If some players who are more armed come there, it's even more fun and entertaining. And I have absolutely no problem in fighting them even if I have just some "average" build. Also, as someone said earlier, the crafting system is much more "fluid" then it was before. It's actually the first game in which I enjoy crafting.
But what is "wrong", is again - botters,cheaters, alt abusers etc.