So what is the point of Pink Bean?

Medals.

Good point. However, I feel like the medal system is still too clunky and not expanded enough. I was thinking more a WoW-esque system, where achievements (in this case medals) would be categorized more thoroughly than they are now (IE Quests, Bossing).

Here's the thing with the medals system though, completing the requirements *always* yields a medal. With an achievement system, it wouldn't necessarily be like that. You'd receive points based on the difficulty of the task, which you would then spend on point-exclusive items. But that isn't to say that certain requirements wouldn't give respective medals, as is right now.