Most players that whine are old players that doesn't want accept any changes(How would you feel to have to re-buy all your equipment because a new updated introduced a better version?).
In my opinion in the last patch they re-balanced PvP a bit,at least equipment-wise. There are basically two sets of equips available:Rank equip and Nirvana equip.
The first one,its insanely costly and can't be directly farmed in game(unless you use the in game coins to buy gold),Its the best gear in game,and its obviously for cash shoppers or successful in-game merchants.
The second one,the Nirvana equip,its farmable in game,granted that it takes a lot of time to farm it,but all the items you need to make it are in game farmable.Its slightly weaker than current top Rank equip,but since the new patch,they released a more powerful version of these two.
The "Third Recast" they introduced its all about re-forging current second recast Nirvana equip and second recast Rank 9 one,off course Rank gear its still clearly superior,however, there is an important detail about this:First,almost no one has Rank 9 recast gear,since its even more insanely expensive(Normal Rank 9 gear cost like 1.300 dollars,you guess how much recast it cost),while lots of players have second recast Nirvana(Me included),which compared to second recast R9,its quite a lot weaker.
Moreover, Rank equipment its 100% untradable,while the"Lunar"version of Nirvana equipment is,even the third recast one.That means that hard-working players can simple sell it when a new equipment will be released(Assuming its not the 4th recast lol),while Rank cash shop players,will have to do again what they're best at:cash more dollars.
Now,the new Third-recast Nirvana its a lot closer to R9(Even recast),than the previous Nirvana versions,making it quite more valuable in PvP and PvE,more important,its not insanely hard to farm mats for it as someone may image.
So in these terms,its actually got more balanced than before,but yet,players still complain no-stop.
No the game its not dying, but PWE management sucks,there are always tons of things not included in patch notes,and almost no GM response in PWI forums(Currently raging out as usual).