The easy way to make the game competitive would be to add a minimum ping of 70-100ms.
Anyone who experienced the game with different latencies over the years will confirm that it is very different at 30ms, at 80ms or 130ms+. You can hit spells and parry spells at 30ms ping that you cannot do at a higher ping, not even talking about melee / sticky backs. You can tell me to look at Magnetic Man all you want.

So what's it gonna be for the launch? Still one NA server but a global playerbase? It will still be the best combat experience of all games even at 80ms minimum latency. And from my understanding it should not be too hard to implement server side.