@theblackbellamy
I can understand the concerns you raised, and I don't think the Hourglass restriction would be enough on its own.
However, the statement says:
As part of coming updates, we’ll be placing restrictions on certain parts of the experience that will require play time in order to access, such as locking Hourglass play behind a reputation lock.
Now, my read on that is that there will be further time and gameplay restrictions for new accounts, not just the Hourglass levels.
In my opinion, the requirement to enter High Seas should be:
(1) completing the Maiden Voyage's Unto The Horizon achievement
(2) two hours playtime on Safer Seas
(3) completing the Just Getting Started achievement (GH, OOS, MA tutorials) in Safer Seas
Yes, this kind of idea has been floated before and been shot down but I think we've reached a breaking point where something needs to be done... and doing nothing is clearly not working. It may inconvenience new players but, for legit accounts, it's a one-off delay to entering the High Seas. For cheaters, it would be every single time they create an alt, expanding the time it takes them to get back sailing from minutes to hours.
Buying levelled accounts might be a concern but that already happens to a degree (as well as buying access to Alliance servers), and any kind of financial burden is going to deter a good chunk of people. There will always be cheaters in the game, they are almost impossible to completely eradicate, but the point is to reduce them to insignificant levels and slow them down. Inconvenience breeds frustration.
I think these kinds of restrictions, in combination with platform-level changes (closing alt account loopholes), will have a big impact on the number of cheaters.