When the update first came, I didn't play the PvP mode because I was afraid that players with better gear would beat me easily.
Turns out I was wrong.
You get none of your gear, except for EXP and a banner, and I find this mode very balanced. The capture the flag part is cool, and it rewards those who work hard and punishes those who leave the computer there, hoping that they get something for just being there(they DON'T XD).
The only problem I have is class balancing issues. The Fae Trickster is overpowered, obviously, and the lunar lancer surprisingly is, too; but they aren't bad as two certain classes:
Shadow Hunter and Ice Sage
The Shadow Hunter(which is one of my mains) doesn't have it well when it comes to sun snares, BUT; it deals a lot of damage, and can even one-hit kill with the Arrow of the Goddess.
And now, the Ice Sage.
Pery lets out a deep sigh and facepalms. [and he's totally not suggesting chat emotes.The Ice Sage's "The Big Chill" is very, VERY cheap in PvP. Do ya want to be a lazy bum JERK and cheaply DISPOSE of players(and ANY joy they were having in the Battleverse)? Just use The Big Chill on a group of players, rain icicles(sorry, ice CRASHES) down on their skulls and watch as they EXPLODE from ALL the damage that they sustained and COULDN'T avoid, and watch friendships and feelings EXPLODE along with them.
Then go and reevaluate your life(That is, if you do what is said above).
To conclude, the Battleverse is an awesome PvP mode that is lots of fun, and is(for the MOST part) fair. The only problem with this mode is class balancing.