For new characters, it just means that they will not waste any time doing any Epic stuff until they have finishing doing all of their Heroic TRing to avoid the problem. Which means that you are taking a section of your playerbase's characters and basically confining them to Heroic quests. Which can't be clever.
I'd like to think that the powers-that-be at Turbine see sense and agree that they could have made it clearer in Glin's OP on the subject and that Heroic TRing will not affect ED XP in any way, and at the same time, a Heroic TR will not give you any epic advantage boost in ranks based on your ED levels at the time you TR.
For an Epic TR, it's getting something back, which is better than nothing. Whether it's enough, you can decide for yourself. Epic TRing to a level 1 character and gaining ranks might not have much appeal, but Epic TRing into an Iconic and gaining ranks is much more attractive.
Someone has already suggested the idea of making the epic advantage some sort of XP Stone that will take you to a specific rank number. This sounds like the best option for it, as others have said that they don't want to skip low level content that they enjoy. You can use the advantage stone at any time, but it'll still only take you to a specific rank number, so no way to try and exploit it by holding onto it and then drinking a 50% XP pot, wearing a VOM, with ship buffs, during an XP event ....