Once, gear didn't make as much difference because everyone was limited in what gear they could have. Then the "Age of Items" came along and all that changed.
Here's another way of looking at it...
PvP was based on skill, timing and connection. The Developers were very involved in balancing everything so no one template had an overwhelming advantage - PvP was a major part of the game, Fel ruleset only. Then items were introduced. Developers were somewhat involved in balancing PvP - PvM became the major part of the game with the opening of Trammel.
Over time, Developers have become less involved, opting to throw prettys at the players instead of balancing what was really wrong. As items increased, Developer maintenance has decreased, now the only thing Developers do is work on new content.
Once, the best items were affordable to everyone. GM armor and weapons were amongst the best available. Now, only the rich can afford the very best items (Inquis Res).