The price disparity is the kadums/wrathsmites, obviously. As I already quoted.
These prices are rough approximations based on auction house fluctuations and are able to change at any time:
The cost of a t7 wooden weapon is: 235 sun essence (~4,700g), 12 kadum barks (~4,800g), 12 nightmare essence (~600g), and 10 blazing nuri lumber (~40,000g)
Total T7 Wooden Cost: ~50,100g
The cost of a t7 metal weapon is: 235 sun essence (~4,700g), 30 wrathsmite shards (~50,000), 12 kyrios fragments (~300g), and 10 blazing nuri sunridge ingots (~40,000g)
Total T7 Metal Cost: ~95,000
As you can see, the overall cost of t7'ing a wooden vs a metal weapon doesn't not exceed a 2x multiple, it is not 4,800g vs 50,000g but rather 50,100g vs 95,000g. Assuming someone simply just buys every material needed for the craft through the auction house. You're not paying 10x to T7 your metal weapon, and you're actually not even paying double what a wooden user would pay.
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Wrathsmites have costed more than kadums per unit for pretty much the entire existence of the server, this isn't a newfound phenomenon or only because of custom changes. What is boring to you may be enjoyable to another player, just because running a dungeon for gold isn't very interesting for some players, doesn't mean that same mindset can be extrapolated to the entire population. If you really have comparable ways to make gold that are much less boring, then why is it so undesirable to buy wrathsmites if you hate mistsong so much and are truly making equal or better levels of money?
If a person's moneymaking method isn't up to par with the value that mistsong gives, and they also aren't willing to buy the shards, or they think the dungeon is too hard, and this doesn't motivate them to change something by either starting to run it themselves, make more gold, or get better at the game; then I'm sorry, but they're a hopeless case and have an extremely weak mentality. The biggest goals/achievements in ArcheAge shouldn't be achievable solely on your own or by being apathetic (Castles, Ayanad earring, Dream ring, the biggest and hardest bosses, the highest grades of equipments), this is a MMO after all and by isolating yourself you should be put at a disadvantage. Arguably, 30 runs of mistsong is a drop in the bucket in comparison to 100 runs of serp and dahuta each, or a 3 month questline of dailies and bosses, or something that requires at least 50 assembled players to attempt let alone accomplish. If mistsong wasn't hard in 2.9 or 3.0 with crappy gear and no ancestrals/op gems, then it sure as hell isn't in 4.0.
Let's also for a moment consider the future implications of patches that are arriving in less than 6 months:
In the 4.5 patch, T7 weapon and armor will become recloakable relatively cheaply. You will be able to essentially transmute and sell any bound t7 equipment. This will only make T7 items more accessible to other players, primarily because there will likely be a substantial influx of these weapons from players who previously quit. Even if T7 costs were an issue on this server, there is a planned update coming within a relatively short amount of time that essentially adresses the T7 accessibility issue that some people on this thread claim exists.