World of Warcraft Gold Farming | Not As Bad As You Think

Gold farming and gold farmers really seems to be the bane of mmorpg's. I know that in Everquest gold farmers (but much of it was gold dupers) really brought the Everquest economy to its knees. Mudflation is so rampant on all EQ servers that it's to the point where you almost have to buy platinum in order to get anywhere.
One of the main complaints in World of Warcraft is that of cheap gold being sold by various (mostly Chinese) farmers on various websites. As with World of Warcraft Honor Bottingthe gold farmers face a similar backlash from normal players in that they are cheating and ruining the game economy. My argument is that this is not completely true.

world of warcraft cheap gold is not a serious issue

The reason that gold farming and selling is not a serious threat to the World of Warcraft economy is that after a certain point, gold isn't worth hardly anything to the average player. Take a look on Wowhead for any epic item that is ranked higher than 60 and you will see that they are either bind-on-pickup or in some way or the other not sell-able. Blizzard did this on purpose to keep World of Warcraft from plunging into a mudflation supermarket of buy-able gear on the auction house.
What if most items could be re-sold?
There's an Everquest server name Firiona Vie that has a special rule-set when it comes to equipment; almost of all of, regardless of where it's from or where it dropped, can be bought and resold to various characters on the server. This is great if you want to twink out a low level character (the stats do adjust accordingly per level) but it makes worthwhile items extremely expensive.
Imagine, for example, if you could buy a complete Tier 6 armor set on the auction house. The armor would be worth a small fortune since the vast majority of the server population would never be able to go in and get it themselves. Care to take a guess how much a 5-piece Tier 6 set would cost you? 3000 gold? 5000 gold? Who knows, but since you had to scrape to get your epic flying mount I'm willing to bet you would consider buying gold to get that armor. Check Wowhead to see if there's anything close to a full set of epic armor available on the auction house for a level 70. You wont find much, because most level 70 gear is not sellable.
If you look at the pricing history of epic weapons on the auction house you will see that the items are actually cheaper as the levels goes up considering how much more gold you earn once you enter the expansion.This is pretty important considering the game is it's 4th year. In conclusion, this really only allows gold farmers to have a market up until you get your epic mount, after that, the uses for cheap gold really is minimal.