The highest iLevel gear from Raiding comes from Mythic and from the last couple of Bosses like Jailer, Stone Legion, etc?
Very few organized Guilds beat those Bosses so I wouldn’t sweat it since that gear may as well not even exist for you.
If you want to solely gear through raiding, you need to get the raid on farm status within the first couple weeks and your guild has to religiously clear. Really though, even if they nerf M+, nothing is going to change. People won’t go back to raiding. I enjoy the actual encounters in raids, but the process of making a group and clearing sucks. I’ll only do it if I like the people I’m doing it with. And even then, I’m not sure I have to time to dedicate to raiding that a guild would need.
Overall WoW has a rewards problem: your gear gets thrown away every 6 months and you have to pay an arm and a leg to play dress up dolls through transmogs.
It also has a time sink issue: I can clear a wing in GW2 in a single night, which is usually the amount of time I have for raiding. If I do dailies it can take over 30 mins, easily between all the different sources (and that’s not even doing everything). My time in this game doesn’t feel well-spent
Then, as an altoholic, I don’t feel my needs have been met by this game. This game expects you to commit to just 1 character and 1 spec for 6 months straight if you want any hope of accomplishing any seasonal objectives. At least for the amount of time I personally have to play. That just doesn’t feel good. I enjoy my mage, but honestly, playing any class straight for that long gets old. It’s just too time gated and time consuming to get geared, let alone BiS for a single spec. This game is designed for people who aren’t normal people if you really want to experience a breadth of things, which is a shame because I’ve been mucking around on alts lately and I realized I like changing it up, but if I’m playing DF, I have to pick my main going into it and nothing else. Also, leveling is a PITA too. And another huge issue when it comes to experiencing the game.
I also want to call out how unfriendly the massive ilvl climbs are between seasons; in my guild, everyone came back at the beginning of 9.2. Most of our core players didn’t have the time, or didn’t feel like dedicating the amount of time it took to get caught up and we just didn’t get anywhere on the raid tier. Our GL had tons of time and was basically a carry. I was a semi-carry as I was higher than most members, but there were pugs who joined us who were stronger (and, admittedly, we did better when they were stronger than me, when I was top DPS, we usually had issues).
TLDR, this entire game is like a lifestyle if you want to succeed in it and it doesn’t give enough of a diverse and fun experience if you want to play optimally.
My suggestion for saving raiding would be this: normal and mythic versions only (and normal is queable like RF, who are we kidding not doing this? Every guild is filling with PuGs these days. It’s just an efficiency gain). Gearing up to today’s heroic level gets really trivial, even from WQs. And no, you don’t need to grind personal ilvl to do it. Normal is more of a skill test than an ilvl test. Its difficulty matches normal now, scaling up to heroic on the final boss. Mythic should be doable in Heroic ilvl gear through all the bosses minus the last, which only needs you playing at 90% efficiency on a toon halfway geared to mythic ilvl.
They really need to reduce the barrier to entry and gearing if they want people to take this game seriously. Too many other games make it really easy to play multiple roles for them to treat players the way they do. It makes this game feel bland in comparison, and even having your guild resurrect itself randomly isn’t enough to get you playing again, which is what I saw in my guild. no one is playing anymore. For whatever reason, we got stuck and burned out in Sepulchre. On NORMAL difficulty.
Mythic in general is the only way to get 304 gear reliably. This forces me to mythic raid - I am doing +24-26 keys on my frost DK. This means that extra 6 item levels makes a difference between being randomly one shot by trash and being able to survive enough to death strike and get back to DPSing. Also, my best trinkets come from raid.
I hate raiding. If it disappeared, my experience in the game would drastically improve.
1.2 drops per 10 bosses per person.
Pass.
How is 3 drops per Boss for 20 players reliable? Most of the time you’ll get one drop per clear. It’s about on par for getting a 304 from the GV for keys and you at least get 3 choices. Doing more stuff is always the fastest way to gear but you’re being a bit hyperbolic.
The Dinar system helps this Season but you still need to kill 20 Bosses to upgrade which gives you one targeted piece every 2 weeks.
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It is the only way to target gear. After 2-3 weeks, people are able to start trading gear in raid. On top of that, it is the only PvE option that drops the highest level gear. And half the time, that is where the best trinkets drop for alot of classes, tanks and dps.
If you don’t raid, you have to rely on the vault which has no option to target gear, which means more times than not you end up taking the tokens because you just get garbage rings
Reroll tokens might have had raiding on life support pre-SL when they decided to sack them. 1 piece of gear per week? And there’s 18 slots? I think? That’s 4 months+. So to be fully geared by EoS, your guild has to have whatever difficulty you’re looking to gear on on farm about a month or so into the tier.
Easy solutions to fix raids 
1- Emblem of Heroism that drop every time you kill a boss, not once par boss ( with a weekly cap ) , and starting the second boss ( to avoid people farming only the first boss then leave )
2- Emblem can upgrade you raid drop, or allow you to buy it at an npc ( with a high cost ? )
3- bring back the seals.
I think it’s on the right direction when they implemented Fated Raids with Dinar and Cyphers, and even with the Skeletal Saber Cat Mount on a Slime rewards.
To make it more rewarding, make Tier Gear a Raid-only drops like all previous expansions of WoW. Shadowlands is the only one with Creation Catalyst where you could get full Tier set without stepping into a Single Raid. Tier gear was all Raid before. Bring it back to Raid only drop and eliminate Creation Catalyst. This way, players seeking for powerful Tier gear would Raid.
M+ would still be playable regardless. No changes needed in M+. Just eliminate Creation Catalyst… it’s too much.