Every demanding high-level activity should impact the world as a whole, and should stand out as something special.
To be cynical and generally speaking (not to SW:TOR directly related), I would say that,
Every demanding low-level activity should impact the world as a whole, and should stand out as something special.
because low-level characters do have a right in "being meaningful", too !
Your argumentattion sounds to me as if only the highest parts of our real-world society should be allowed to have an impact upon this world, and all of these faceless, futureless masses of low-level ... err, lower parts of society sould just shut up because they shouldn't be allowed to change the orld "which they can't, anyway, because the highest parts of society are effectively hindering them to do so, because they believe that they themselves should be the only ones who should be allowed to turn the tide of the world.
Again : That's my cynical take on this.
I strongly believe that in an role-playing game, every single one should be able / allowed to hve the exprience to play "a meaningful role" within the game. Because otherwise . Why should I play it at all ? Only until my RPG's character reaches the ranks of the highest levels ? Because that would be a 1:1 mirror image of how our real-world society funcions now. That would be perhaps "The American Dream", to "level up" from a peasant to Mr. Rockefeller himself ... But should role-playing games really be as that ? Should they really be a mirror of real world's society ?
I think not.
But no-one chnges the formula, because originally, role-playing is about levelling up. "I level up, therefore I play a role" ?