My second character is a FTH/DEX at lvl 75 and honestly, it feels about right, although it's more dedicated on weapon buffing.
I have 40 DEX (with the hunter ring) and 30 FTH. VIG is at 27, but honestly, from 27 to 40 there isn't that much difference. My first character is almost lvl 100 , with 40 VIT, and I can take the same hits from bosses, considering how hard they hit.
Only problem for some would be stamina, at only 18, but I'm too used on having low stamina, not having any problem with PvE or PvP, but that's more just me.
At that level, I have instant coop from A
till the final boss. And fight clubs are populated. Same thing happened with DS2 really, you got PvP in all ranges.
Btw, it wasn't always 120. DS1 was first 100, then bumpled. DS2 was 150. BB had a lot of disparity between 100 and 120 but honestly the PvP scene wasn't that big there. 120 was more about having enough vit for Chalice Depth 5 runs, not for PvP. 100 feels like the sweet spot to me but I don't really care much if it's 120.