Seriously?
And the fact that probably THE most whined-about thing is the time and tedium required to collect mat's doesn't hint at how this "innovation" might be received?
Anything can be tedious if you put your mind to it. Give me an example of a game that features unlock-able items (like most RPGs), and tell me there's no tedium there as well.
From my experience:
Diablo: do the same run ad nauseam until I get the drop I want, or the mats I need.
Any racing game with purchasable cars / parts: do the most efficient race in terms of credits / h ad nauseam
Could they do missions? Sure (and maybe they will). But how much different can they be? Yes, I did all side quests on Dragon Age. Go here and kill this, go there and fetch this, ad nauseam.
For those that want everything, it will always be a time sink, no matter how it is done. For those that play the game, and get things when they come, nothing much will change.
On my first account, I was like that: do the same thing over and over and over and over and over to unlock something. On my second account, I just do whatever, without thinking about an end goad. Much more fun.