It's no different than the previous games, and it's really not that "busted", all the perks are situational and you build for how you would like to play, reducing what you bought to pure cosmetic value (again, same as the previous games).
And if you're going to say "battlepass", you should also say that it's free, just so nobody gets the wrong idea.
What they did here also isn't different from the previous games, there you had weekly uplay challenges so you could get premium currency, which you could then spend on the premium gear vendor (basically all that "absolutely busted gear" you're so worried about), which always had a weekly and a daily rotation of items.
Now it's still that, weekly challenges, but they fill up the pass instead, and instead of just premium currency, there's also gear and lore in there.