This is a rant. It really annoys me to see a low level character using a high level pet of its school.
Example: a level 1 death mage using a wraith pet. Obviously someone had a high level death character at some point, earned the wraith, and stuck it in their shared bank. Then they made a new death character, gave it the high level school pet.
Why this annoys me:
Characters (not players) earn the pets at various levels. They are a reward to THAT character for completing the quests. School pets, just like PVP gear, should not be transferable between characters.
While I agree with you that it doesn't seem fair to those who are new players and those who PvP. And it raises unrealistic expectations for new wizards under level 50 when hatching and training pets. But its how the game is designed. Just like a high level wizard can shared-bank gear, loot, reagents, pet snacks, and seeds to their other wizards.
But its also good for the following reasons:
1. Some players spend weeks, months, even years perfecting their pets. If they couldn't shared-bank them their would be no point to hatching great pets.
2, Share-banking wealth, gear, and pets to your subsequent wizards speeds things up alot. Nice for those who want to zip through the first couple worlds.
3. Its fun to show-off cool stuff you got with your old retired wizard. Especially stuff your old wizard got later in the game and didn't get to use much.
If the low level gets a higher level school pet, it might look cool, but believe me, it's not worth much in terms of talents - if it was banked for another wizard and is a first generation.
Just like low level wizards can buy high level clothes and wear them if they are stitched.