We can always just chillax and make some fun tournaments, one-night tours, 2 weeks leagues. There are many options. 1v1, mirrors, 2v2 friendly fire, 1v1v1/v1, naked duels, only-weapon duels, duels wih low dps weapons, LOW LVL DUELS, hc duels also (maybe not that imba with crapy gear).
Something of it will be fun pvp.
Ptr 1.07 is just the beggining, maybe they will change sth before official release (like dmg reduction on pvp), maybe they will change something within next patches (and add a lot, like tvt games, scoreboards, awards&achievments, some guild/clan options, more arenas etc etc etc). Pvp should get better later and if not? We will build a community willing to play on specific rules including some skills/gear restrictions, we will die trying or we will simply rename to LineageEternalClanLeague;)