If they remove Ravenholdt as a requirement... I can't think of any way to appropriately finish that sentence.
Anyone with 40 exalteds is going to have the 4 goblins at exalted. All that'd be left is spend an hour killing bouncers. Hardly much of an effort.
Is there any reason besides "We don't wanna" that they can't put that quest on someone, or add the questgiver into the back of a cave somewhere?
How about compensating for the lack of Shen'dralar rep by putting the turnin guy in an instance that doesn't allow portable mailboxes, jeeves, ponied champion pets or mounts? Somewhere near the dark furnace in BRD for example?