After playing for a month, listening to the chat channels, and reading the forums, it's very clear what's wrong with DUST 514: This is the Game of Thrones of FPS games.

When are we actually going to see this damn winter you keep telling us about George R. R. Martin?

Insert 'balance' for winter and 'faceless CCP dev' in place of George, and you see what you have? Empty promises from a liar.
Yes, CCP et al, I am directly calling you out.
There are those on the forums who credit the total imbalance of DUST to incompetent designers, but I disagree.
It's really simple. CCP has made a game where the disparity between new and old players is such that the player is forced to buy AUR items if they want to compete. Then the devs have purposely manipulated the matchmaking system to put all higher tier squads and players on one side of a battle. Why would they do this?
Money.
It's just like why AV was ruined. If I can destroy an AUR tank with a militia SL how many tanks will sell?