Aussie here, Can confirm that ping is most definitely a problem in this game however We aussies are normally used to this bullshit from other high-ping titles and we work with what we have.
Few examples of how the High-Ping sucks, In PVE you cannot last second parry against mobs, Soon as you see the wind up animation you better be blocking in that direction or you will be hit, Same applies to PVP.
If a player is winding up their swing you better block in that direction immediately, You cannot parry on their release animation you will 100% get hit.
Another issue is players can Hit you from 5-metres away even with short weapons like 1handed swords or daggers.
In teamfights if you have more than 1 person on you, You're already dead as you cannot block all that's coming at you while someone with good ping/being a good player can hold their ground.
No sugar coating here, Spitting straight up facts because at times it's generally bullshit how much people play it off as being a minor inconvenience when really it's a big deal and changes how we play the game entirely.
Having to pay a box-price and Subscription cost more than mostly any other person in the world is also a deal-breaker.
Now past the Many cons which i still hadn't listed, The Pros.
"In a 1v1 if you're fighting someone whom doesn't know you are an Aussie players, Face to face landing a riposte on a person whom has distance, you can hit them from afar such as 5-meters which people would do to yourself more often in engagement instead of standoffs.
If you're packing a heavy axe/mace you can land a big hit on someone whom has good ping and assume they're far away that they don't need to block, You can change the battle.......BUT if they find out you are an australian they will simply parry every hit that is coming their way and punish your aggressive tactic as lower ping to the server/movement They'll catch upto you and you're screwed."
While I'd prefer to be a footfighter and played many games of Mount&Blade, Chiv1/2, Mordhau, Gloria Victus and was considered a top-tier player in many of those games....There's no chance you will ever be as good as your average EU player whom can parry everything you throw at them unless you attempt to break the game with broken Animations.
Current playstyles i use now to half-avoid this nonsense is, Mage and Mounted Archer/Mounted Combat.
There is still that mentality of hey i won't get hit but as soon as someone is looking at your and charging from 10meters away, You need to run else in half a second that sword swinging 7metres away is going to hit you in the face which you'll be sticky backed to death.
While i hate most of the ping related stuff in the game and people underplaying how important the ping is to high players in the OCE/SEA area, The game is definitely the most fun i had in awhile, Besides the bullshit i have to deal with constantly.
TL;DR, Ping is an issue but we work with what we get, Box-price/Sub-price is super fucking high for us Australians, Fun game but we have to deal with what we got.