2 words: Character progression.
I’m a high lvl thief, I defeat Zaithan, I follow into the war in Orr, I killed thousands of Undeads, I’m an elite, even a legendary thief in tyria, but hey!, I come to my land and a deer kill me with 2 hits…
I think that the lvl adjustment is fine as it is now, you feel that your character is something and is more powerful, in low lvl you feel that your character is kitten. Now I can come back to tyria like a legendary thief and kill that kitten centaurs who defeated me lot of times in the past.