I could on for pages on why this should be, however... reddit has done it for me, here are a few links to some great posts written by community members:

http://www.reddit.com/r/Smite/comments/2fjswa/why_bacchus_new_skin_shouldnt_be_treasure_chest/

http://www.reddit.com/r/Smite/comments/2flboo/please_dont_water_down_the_chests_with_emotes/

http://www.reddit.com/r/Smite/comments/2flppg/all_i_wanted_was_a_purchasable_bacchus_premium/

I hope that by signing this petition, you also consider not supporting the Treasure Chest system (purchasing any Treasure Chests) until Hi-Rez addresses this issue.