It is, but as shown, people would buy out the mog station if it had limited supply, so there's plenty willing to pay. When I load Balmung after cash shop updates I counted no less than 76 people after a day that had the china/korea stuff purchased. That's just 1 day and 1 server.
The ability to bypass the "hard stuff" as people put on official forums? SE made bank.
I'd be curious how much throughput those items get as a percentage of a region's actual players.
Yeah there are always going to be people that simply can't restrain themselves when they see a cash shop. As long as it's not a pay to win situation though, I don't really care. It's their money.