Literally 99% of the arguments in favor of instanced loot come down to “I would like to be able to play with total strangers without needing to break my wrist spam-clicking to compete for loot, so that I can focus on playing the game itself instead of playing Cookie Clicker to get loot before everyone else.”
Total drops would be the same, but items are randomly distributed out. Each player would have a 1/8 chance of getting items. Out of the 10 uniques I might get lucky on this run, and get 3 of them. Say we do another run, and 10 uniques drop. This time say I get 2 of them. One player gets 5. One player gets 2. One player gets 1. 4 players don’t get any. Just random chance based on number of players in game, and if the players are all near the bosses/monsters. The only thing bad about personal loot in party games is looking for certain items. Say I’m looking for a 4 socket Crystal Sword. You would have to ask/tell the other players to look out for a certain item that you’re looking for if you stay in group killing the same bosses/monsters. If you go off killing bosses/monsters on your own you would be the only one getting the loot anyways. Also, solo runs you would be able to farm for that 4 socket Crystal Sword better. There could be an upside to personal loot in that when you join pub games, and you state what items you’re looking for you can create more socialization in game, and possibly more friendships if you’re able to share the loot!