The fundamental problem with the legacy Firefox extension API is that its incredible power comes from putting incredible constraints on Firefox internals. Every stable API commitment involves some constraints, but the constraints from legacy Firefox extensions were out of control. They were killing the browser.
The "legacy" Firefox extension API is powerful because it reaches its tentacles into every corner of the internals of the browser. Keeping that API stable involves freezing a large amount of internal architecture and behavior.
Firefox needs to evolve if it's going to live, and it can't evolve in the ways that it needs to if so much of its internals are effectively frozen. It's a painful drag on development, slowing things down and preventing necessary changes.
I'm not even going to get into the problems with the API itself except to say that it had many, including widespread dependencies on synchronous behavior.
Mozilla's sacred-cow-level commitment to preserving legacy extension support is a big reason why Chrome beat Firefox on so many technical levels for so long. It ate up a ton of developer time, held off or killed critical architectural changes, was the cause of a lot of crashes, hangs, memory leaks, security problems... Thank goodness that's about to be over.
I'm sorry that you'll miss it but this is a really important step. Mozilla is doing a great job with WebExtensions, I suspect you'll be happy with how things shake out in the end.