Anyone who knows me also knows that I absolutely LOVE buying regions. It's the greatest use of time and gold ever conceived of. Until recently, I had never actually been appointed Duke or Lord—I just bought my way into every position. So what I'm about to say is a big change for me:
I unambiguously support the removal of the feature. It doesn't add any significant value to the game and it probably has kept a good chunk of gold from being recirculated within the world as players race to 10,000 family wealth or store it up for an eventual attempt at buying a city. Everyone will have some complaint when we start removing features. Buying regions is small potatoes. People should pick their battles more carefully because a feature you really care about might be proposed for removal, and nobody is going to take your complaint seriously if you hyperventilate over the small stuff.