In my opinion, Warband's system was quite limited. There are optimal purchases that you should make, with the majority of gear being simply ignored. It is also possible to eliminate most of the drawbacks of any of the classes (inf, ranged, cav) by swapping gear with teammates (and please don't get me wrong, I love the teamwork and communication involved in gear swapping, I'm just not a fan that there are few, if any, downsides to it).
The class system presents you with a meaningful choice that you have to make with each spawn, taking into account your own team composition and that of the enemy. This choice can then be further tailored through perks.
Obviously, perks and classes still need some work, there is no doubt about that, but eventually, I think they will provide players with a fairer and ultimately better MP experience.
I feel that the only missing ingredient is the visual customisation that Warband offers, allowing players to inject their own personality into their character.
I suppose I can see your point, however, on the flip side I see the class system as limited. While I understand the gear swapping argument I feel as if that could be avoided with a stat system similar to that of Warband. Archers shouldn't be as good with one handers as a melee class just as the melee class shouldn't be able to use a bow that well. Cavalry in my opinion is the only class that should be able to ride majority of horses and utilize polearms on them adeptly, or bows if they're a faction like Khuzait and pick that class. I feel as if the class system in it's current state does not satisfy fulfilling drawbacks. A good chunk of the high level archer classes are huge melee contenders and carry some of the best weapons on the field a lot of the time, i.e Palatine Guard w/ Imperial Polearm, Fiann w/ Highlander Sword, Veteran is just a good class all around, etc. Where's their drawback? A lot of melee infantry are armed with javelins, a shield, a polearm, and a sword/axe, again they've got just about everything they need but can also pick up a crossbow/bow or get on a horse and basically fulfill the role of another class. My point is the classes just don't feel terribly different in terms of strengths and weaknesses and if anything I think Warband's three role system emphasized it more. The cav class was meant to be on a horse and could ride the higher tier horses while the other two could not, the archers could use the bows while the other two could not, and melee classes were the best swordsmen on the map no doubt and could use high tier two-handers w/ heavier armor. It was pretty structured.
Unfortunately I don't think many people are looking at team comp when picking a class, maybe in Skirmish but rarely. People typically will pick the class that is easiest to get points with and then pick their actual desired class. Like on Empire I don't pick recruit thinking it'll benefit my team, I pick recruit knowing it's the cheapest and I get an OK loadout to go attempt to get Legionary with. If I'm on Sturgia I just pick the Berserker as soon as possible knowing I'll likely be able to earn enough for a higher tier class, or worst case default back to Berserker. It's not really about team comp for a lot of people especially on a casual level, people want to play what they want to play. In Skirmish/Captain I get it, but every other mode it feels like a detriment. If Battle were in the game, it'd feel infinitely more stale than in Warband.
I understand and have confidence that the class system will improve, however, I don't know if I am ready to say I agree that that's the direction I think MP should be taken, at least not completely. A lot of the MP aspect of Mount and Blade is the community/casual/free flowing aspect of it. The more match made MP is, the less of an appeal it has to the aforementioned idea of MP that a lot of people have.
The visual customization would be awesome don't get me wrong, however, that also goes against a lot of the points initially made to keep the class system around. Now I'm not saying it can't be done, but, if one class can look 4 different ways it may take away from that "see a class and know exactly what it does" kind of gameplay. Especially with varying armor perks which would have different visual choices. I just think it's leading into a slippery competitive vs. casual slope.