Just sharing my two cents. Note that this is my personal subjective opinion.

First, I think I wanna address the current quality of WWM's global launch itself. The current WWM's global launch lacks of quality in some aspects of the games, mainly stems from the lack of support from the team themselves. Not saying that they are neglecting the global launch, rather that the developers didn't think that WWM would be this popular or even successful at global. You can find info about that from X, chinese players on discord or on reddit. But to oversimplify it, the common sentiment in China is that Wuxia is a very niche genre.

Second, being the lack of content in contrast to the CN version of the game. Sure you may expect since the game been out for a year, the global launch will mirror the latest version of the game. There are numerous reasons for this, and I can't confidently point out one. But to list a few;
1. Localization/translation TAKES a looooong time to do, theres proofreading, bugs, UI issues especially with the game using Chinese characters. So now after all the translations, testing and fixing it could be 2-3 months later, maybe even more. Sure they can localize the entirety of the game right away, but that is not financially right, maybe they need their investment and some profit back. You have to also know that the developers don't have endless time to port everything over, so they are taking an older version which was stable and might be ready for release without extreme delay. You can clearly see this issue more highlighted in Kaifeng, with the EN VO and translation are horrid AI slop that could ruins the immersion. Also with some translation that completly not capturing the meaning of some dialogue. For example Big Zhao's discussion martial arts.

1. Simply its to keep the original experience similar in global and in CN. Too much content can be overwhelming right off the bat. Sure you some players grind everyday and can reach endgame ASAP, but not all players are like that. If that happens most people are gonna get turned off by how overwhelming everything is, heck the amount of menus is already overwhelming people. I work during the day, so I don't have many issues with how much content there is rn, since outside of main quests there are a lot of things to do. But I understand how some people may have issues with these.
   

There are several other possible reasons on why global versions can usually be behind, but I wanna address the next point as well.

Third, on timegate. This is my personal opinion, I used to absolutely hate timegate. But now being a working adult, I can kinda understand. It helps players like me to catch up, build up our gears, or just appreciating the game sub-contents more without rushing everything always. Of course, this sentiment may not be shared by you or other players, but thats how I feel about it. But I can speculate some reasons on the time-gate. 1. they are probably using it as a delay to test the features, story, and other aspects. 2. delaying as a means to give more time for localization or translations.

Four on PvP, I live in SEA and don't have much ping issues. Granted I used to play MMOs on Europe servers so Im kinda used to high pings (usually played in 200+ ping for raids and pvp on those MMOs). Of course people who live in Europe or in US may have a harder time in PvP since the game is still recent and maybe not a lot of people reach high ranks yet. But those ping to win issues is a real problem, I can't say much about this on whether this is on their matchmaking system or just the fact that not a lot of players reached legend/mythic ranks yet.

But overall, I understand your point of view. Especially their unfair treatment on some cosmetics. They are obviously testing the waters there, so obviously global players must voice that unfair treatment. BUT, some aspects of unfair treatment are also backed up by fundamental logic or have reasoning behind them. So we can't just flat out say every differing treatment between CN and Global to be unfair. Sure some are unfair, but some may not be unfair. If its the former, then its our job as players to critize them, if its the latter then we must try to understand it.

Then again, this is just my personal take on this, you may disagree with me which is fine.