Sure, but characters will all start with points in every stat. For example, if you choose a swordsman and decide to use no magic, you'll start out with a set number of points in sorcery, faith and attunement that are a complete waste. If respeccing can take these points and put them elsewhere it's a really powerful tool that nobody can ignore.
Good point. I suppose we'll have to wait and see how it works, but I still feel - even if this is the case, it's largely a non-issue.
If some min-maxing über dude, geared and ready to kill, invades me - I'm probably going to lose, regardless of whether or not he's got a few extra points in STR or whatever.
I don't want to get involved in all the back and forth on this issue, but I sort of think the people "outraged" about the respec are just doing it for show, or to be devil's advocates. With what little we know it's just going to be a non-issue in the grand scheme of things.
(I know that last paragraph will probably get the dander up on some of you - I apologize in advance, and yes you're right, I concede every point)