So much is wrong with this...

It sets a poor precedent when the Devs decide to patch a broken and exploited mechanic (light bot farming) with EP penalties for well meaning players... then creates a special 3 day window in order to let the worst exploiters slip out the back door.

It fixes the broken mechanic while letting the exploiters off the hook and in the end effectively punishes new players who in their over eagerness to jump in to a new and exciting MMO don't spend several hours reading the documentation, forums and help files before getting started.  Seriously who here actually reads the instruction manual, cover to cover, before playing with their new toy?  The toy should be made well enough that it doesn't break under reasonably predictable usage patterns.

For a new toon, the ones making these mistakes, those 2800 EP are HUGE.  I'm all for accountability in gaming, but severely punishing inexperience while letting exploiters off the hook is wrong.  Fixing individual exploits by tweaking functional and core mechanics is wrong.  Finally, Dev Zoom pointing out that a character registered on 12/7 should have known better because it was announced in last months patch notes and discussed via in game mail and on a forum that has not been bumped since 12/1 is wrong.