I find the price to be fine. $40 a year for an expansion is not a terrible "subscription" cost if you just want the content.
I consider the other stuff in it to be the "megafan" type things that shouldn't be considered baseline to get. I buy the $130 every year, and each new coffer at full price, and VIP - but ~$250-300 a year isn't table stakes, you can go as low as $40 a year and get all content. My gym membership is like 3-4x that annually and gets less use.
It does suck for new players seeing the price to buy in to the game even at base- I don't love having to tell prospective new players that there's like $400 of expansions to get just for the basic versions if they don't want to wait up to 6 months for a sale. And that it's over a thousand if they want all the collectors stuff.
The power creep from expansion stuff has also gotten kind of bad over time as well. +4 universal points, +3 racial points, and +2-3 destiny points is kind of a lot in terms of what it lets you do. You can buy the individual tomes with points theoretically, but they're priced so high that its like 25k points to get all of it, which is not particularly reasonable, and that's assuming you don't want alts.
The new player issue and the expansion bonuses creep is more the type of thing I'd want them to look into mitigating, whether it's making more permanent "Trove" type bundles to lower the barrier to entry, making the expansion bonus items significantly cheaper (or heck, maybe even making it that after you buy the first set, they're permanently 80% off or something for alts), or whatever else they can address it with.