Standard loot system is much better than this, especially when implemented correctly. Generally it's NBG and you can't click need if the class that you are currently playing does not need the item in question. So a KFM can't bid need on a summoner weapon. If there is no summoner in the group then that summoner wep is fair game. I've been in a few groups now where people jacked up the cost of items just to make me pay more for them. It's not like they needed those items but they just wanted me to pay 20-30s per item(which is a lot when the most cash you've had at one time is 1 gold).
I can see this being made much worse at endgame with all the people that purchase gold for real money and/or play the game like a job and have like 5000 BNS Gold layin around. This game is like the American economy, it caters to the highest income bracket and to hell with anyone below that.
At least make it Need before Greed with the bidding system, like if there's 2 summoners and a summoner wep drops, let the summoners bid on it. But a summoner weapon being bid on by a BD or KFM when there's a summoner in the group that needs it is just stupid and greedy.
I don't know how this is an abuse of the system. Sure it might be a waste of time, but same can be done to a lesser extent in rolling systems too. Also if you manually type ANY numbers into the bidding, it won't change even if someone adds a couple gold... if its lower than minimum your bid will just grey out thats how you not get baited into random jumps in price in bidding.. Unless you werent paying attention and only changed the silver portion then I mean thats your fault.