It works like it does now because too many people (on both PVP and PVE servers) complained about people leaving the boss early or sitting on the rez pad waiting for it to die. Funcom's solution was to make sure you had to be right next to the WB to get your loot. I personally think this does more harm than it helps, since it is much easier to miss out on loot accidentally.
I wouldn't call any of that an exploit, it is simply the way PVP servers work. You will get griefers that make it their goal to ruin your day.