Their plan is to have the R12-13 gear on Elysium buffed 2 weeks after AQ40 / When AQ40 has been cleared, at which point the set isn't good for anyone but mages. This is why so many casters have dropped out of ranking compared to melees - and I expect it to get worse as most casters drop off at a lower rank than melees as well.
Personally I think ranking gear should be updated about 3-4 months into MC for optimally PvP community - it's incredibly fun with a huge pvp scene and it really draws good PR to the server. And MC is easy, that's how how it is, the only way to make MC challenging is to progressively make it's mechanics more punishing / dynamic with some higher HP to combat stronger gear.
At the end of the day people just want to play with others - generally they dont want to play on a 500 pop server with shit items, they want to play on a high pop server with good rewards for "hard work". And I say generally, I know some people that really love playing on empty servers with 1-2 guilds struggling to raidlog but these are very few. Elysium did inform us they would keep the gear nerfed until AQ to make PvE more diffuclt at the cost of discouraging PvP before they opened the servers.