So it just looks like a GC version of alchemy without the need of formulas. TBH, I like this set up a bit more since it doesn't sink items. Items disappearing in the name of making other items always bothered me. I really like a lot of the items; especially all the backgrounds, My little Garden, Red Rascal, Kurola and Black Trimmed Longbow. If the goal was to further tempt us to buy GC, then Gaia you succeeded wont be happening though for me since still no money cry
EDIT: Guys this also isn't the first time they changed the alchemy system. Remember the first alchemy system was zomg based and we had to find stuff to make kokeshi kimonos and what not. But ZOMG died, so they made a new alchemy system. The newer alchemy system was very fun and very cool but it was kinda lame that we had to destroy items. Now we don't have to destroy items anymore. Hopefully they may release a way for non GC users to get charms but yeah that's a long shot.