Certainly you can pay or not if you want, but what your being offered has no real use in the game other than being pretty. Sure I have a reasonable store of gold I might chose to spend it on a gallery picture frame at ever increasing prices, at least they are mine and not rented, and I can change and use as I wish.
If the aim is to create more income via buying gold direct, then surely having useful items like additional clothes and even poses. That you can buy would stimulate and be a more practical way to increase purchase of gold direct.
I like the coloured names but to spend real money on renting just doesn't make sense, if the price was more reasonable and not for rent, then I would perhaps use some gold to do so. But spending more than the price of playing here for a year, to rent a simple colour name tag No Way.