This risk/reward issue has been a problem with EQ through out the time I played, not just classic.
Game design that pretty much strongly encourages players to ignore big parts of the game. I remember in Lost Dungeons of Norrath seemed like everyone would keep doing the same handful of dungeons over and over and over again, because of the way the rewards were set up.
Players will opt for repetition if it means making much faster progress. It's unfortunate. They kind of tried to do something about it with hot zones, but didn't go nearly as far as they could have, IMO. Imagine if zem's like the one in GUK moved around every week or month or whatever?
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