I agree with OP, seriously what is the point of all the grinding for influence just to get Exalted.
Please some one explain to me how that can possibly be fun?
Does anyone find it fun at all?
If not then why the hell do it, WoW is not a job.
Have you played MMO's before wow were out? Can you propose a different way of keeping people interested in a game? Reputations were put in there for casual gamers that did not want to spend hours raiding to get gear, but quest and gain reputation on their own time for some gear rewards. It is really up to you if you want to grind reputation or not... I had almost no exalted reputations before WOTLK on my hunter and still had no issues with enjoying the end game (raided sunwell etc.)
(added that I did not actively grinded rep, I got exalted with a few through raiding)