It depends on your definition of P2W tbh, and many people will defend Jamie by outright saying **** off at any suggestion of any P2W.
Bottom line: Yes there are ****ing huge, and immediate benefits that are available through cash. No denying that, nor can any one really. Someone who is willing to throw cash will have an advantage.
BUT
1) That advantage is not infinitely scaling based on how much you spend, like the very severe P2W models. They pay to get the benefits immediately, whereas others work for the same end 'total'
2) It's not P2W in the usual 'No one stands a chance unless they pay', which that term is so common with now. Every free player has the chance to build up (slowly/fast or not, whatever, that's down to opinion) the premium currency, just by playing the game. From the general consensus, this rate seems to be fair, and allows players to keep up with payers for the most part. Jamie has genuinely given access to all aspects to free players, albeit they have to 'earn' the currency (even if it is just by doing what they'd be doing anyway).
There are many threads on LOMCN and his site (iirc) that go over the currency in great detail.
Know though, that personally, whilst people throwing money may get some advantage - it is an ever decreasing one, as free players can realistically close that gap due to the system that Jamie has implemented, which is as decent, thoughtful and well designed as any 'P2W Currency' system can be. It's definitely not P2W.
EDIT: I notice he said 'pay for status'. Hopefully he didn't mean literally paying to have a status lol, or my reply is inappropriate :S