The mentioned MPG exploits happened back when I was on EZ break, but I've heard about the instance after I came back. I think it's really sad that it was exploited.
Coming off a DL weekend farming essences from Qvic to ToV, I can say that it works pretty good over all in my experience. The only real pain I had was farming Abyss essences
(if you don't count numb fingers after spawing hundreds of T1-2 bosses)
That said, I would love to have an alternate way of getting the essences and other stuff that you need, when focus switches from levelling and gearing in tiers to making some ultimate weapons, strike augments, and SoA's.
I just hope Rent and Akka finds time at some point to make something more "bulletproof". And I also hope that people play honest and report issues, not take advantage of them. It kind of just messes it up for everyone.
TLDR: Abyss sucks!