Personally, I'm totally down with this idea. It will splinter the community, sure, but I think it'll be in a way that is beneficial. This way, it'll make raids slightly more exclusive, and make exotic gear truly more exotic. I don't want any regular Joe or Jane running around with some world beater of a weapon.
ALSO the whole no-matchmaking thing is totally fine with me... we have the Lincoln Force group to join. Plenty of players in that pool to play with. And even if not that pool, there will be countless groups available.