First of all its not an exploit because it can be easily countered. Second this quote from Vince shows that whenever things are removed from the melee system it is always to dumb it down and make it so there cannot be "elitist pigs that take out new people within 0.1 second."
Spoiler
I joined a MM game 1 month before release for the first time since 6 months, I found a complete broken melee system, people spinning like mad, holding down-block constantly and generally being elitist pigs that take out new people within 0.1 second.
Something had to be done, spinning removed to stop the people from being some weird ninja
Some people might think that double x and old MM spinning was a broken melee system and even exploitation but I think that a form of complex yet deep and engaging melee where new fighting styles and skills are invented each day.
Alot of people will buy BCoF because of the historical period or the uniforms and ect... But in the end most of our time in the actual game will be in either shooting or melee combat. If the melee system in BCoF is dull to the point where a new player can easily defeat a seasoned veteran then this is not a game that I would put in countless hours honing my melee skills when there is no big payoff in the end in terms of skill.
I have better explanation for that.
Spinning around like the tasmanian devil on crack is not exactly realistic nor falls within the possibility what man could do. Not even high speed flat stall can rival spinning madness you would otherwise see. Of course, how much realism-oriented NW and M&M really tries to be (and Battle Cry of Freedom) in the end and one can always note things need some kind of balance is one thing, but speaking on purely subjective behalf, I kind of liked NW had slightly more realistic approach overall. I admit this is quite noobish and unpopular opinion, but overall this reminds me of Ken Fighter 4, and how it turned into Super Yun\Yan Fighter 4 instead. Or back when 4.10 patch was released to IL-2 over the years and they got rid of absolute limits for G-forces and modified heat management to reflect reality
slightly more instead of exploiting full WEP throttle all the time for eternity before it would reach overheating. Most veterans of online IL-2 flight squadrons said the game was ruined because well, they might have to reconsider their tactics and pay more attention to similar throttle and pitch settings as it would be relevant IRL. Oh, and that you can no longer pull off instant fighter-esque 180 degrees with heavy bomber on full bomb load just like that without destroying the fuselage in pieces.
(Vaguely of course, since IL-2 of course has its share of stuff that is kind of ignored or very abstracted.)
Since I am being a prick today I shall continue it on bit more subjective behalf, so feel free to call me the worst kind of noobish non-scrub there is, the demand for greatly authentic game which is arbitrarily balanced for the sake of balance feels extremely silly. NW is already quite a compromise, but since neither shooting or melee is completely pointless based on warfare which was primarily dominated by... shooting, if we fastforward years ahead to depiction of a conflict which was even more pewpew focused than before having arbitrary nerf of guns for the sake of keeping chivalric bayonet duels which last for ten minutes is IMHO, pretty stupid. It's no different from having game based in the 1940s - or hey, how about Vietnam which is all about bayonet combat. No doubt it happened here and there, but it's beyond arbitrary. At least Falklands would have the justification bayonet charge succeeded, but we could say that really boils down to calling judgment depending on the situation. I dare to say that might be even true in BCoF, as even if melee would be treated as second-class citizen there is no reason not to include it and make it at least functional, if rare.
This really just boils down to the preference between arbitrary balance, functional balance and realism. There is no such thing as perfection and realism can be said to be quite subjective - just saying this to be extra extra redundant - but if all else fails, nothing prevents from the community from creating so-called promod. WolfET had one (and damm that game was awful compared to RTCW MP), some CoD games have one and so on. Say whatever you want of the mentioned games but they all had genuine competitive community which is not really that different from mindset of linebattles and regiments in functional sense.