The thing that gets me is that one of the excuses for making 10 and 25 man raids share the same lockout was that people felt compelled to do all 4 versions in WotLK and this was causing burnout induced subscriber churn. But MoP rolls around and they remove the daily quest limit, and when people complain about burning out from feeling compelled to do all the dailies every day, Blizz's reaction is "well, maybe do them every 3 days".
The following expac ought to bring back the 25 a day limit and ought to gate the grinds better if they insist on doing them to this extent again.
Then again, I found WotLK to be near perfection that didn't need to be messed with all that drastically in pretty much every respect.
I still don't understand that same lockout for 10/25 man change no matter how many ways they spin it. I for one enjoyed doing them all a week and it wasn't the big deal / time sink people and Blizzard make them out to be. All these dailies do indeed take up way, way, waaaay more time at the moment. That change took away lots of fun for me and is probably also some of the reasons why I also stopped with Cataclysm so early. So limited in what you could do raiding wise. Want to do 25 with your raid but 10 man with some non raider friends? Nope, sorry, won't happen.
Taking away options, no matter how they spin it is bad. Really bad. Wrath did it perfect even though I found that whole endgame raiding thing to be really easy but it never got boring. Though 1000 months of ICC was.. eh.. yeah.
And I think the daily system they made could have worked. As you said - bring back the cap but reward the daily quests with more rep. 100 rep for one quest is beyond terrible. Should have opened up all factions from the start - pick wisely which you would want to focus on first but you would get more rep per quest. Then it would feel like you were actually going forward at some decent pace instead of... this. Even now with the 100% bonus it still feels like it goes so slow.
Tillers exalted is a joke. So fast and very enjoyable. Golden Lotus is just pure pain. Insanely slow and the worst kind of quests. And after 2 days of Shado-Pan dailies I am already sick of it but yeah, some of the best rewards there for my class...