I also think it was a poor choice to reset Favor. Let me make a comparison:
Imagine if you had to pay 'favor points' to unlock the ability to take certain skills? Without paying 50 favor, you cannot get Snipe 1, and it takes another 50 for each level after that. Once unlocked you can use the skill like normal... but until then you have to play with just stats and maim.
Decreased combat effectiveness aside, it just wouldn't be as fun.
Consider the question "Why do you enjoy this game?" I would assume it is getting to play unique and interesting characters, using strategies, and playing as a team to defeat another team. By taking away one or more of your gameplay options, you are for the most part taking away an element of what people enjoy about the game.
For example, i had just started liking the cool things you can do with cloak of the night, a 2000 favor item. Part of why I enjoyed playing a 'blink' erebus was being able to start with this item. That ability is now gone, and I'll have to play a more boring vanilla version for a while.
Am I angry because my status as a player has been besmirched? No, I just wanted to play the game in a certain way, and that way is no longer available to me.