The way the game is now is definitely because of MMO evolution. Would you prefer bosses drop 2 pieces of loot again?
Try Albion great game, where its player made gear.
fixed this for you.
OP your thinking is whats caused the downfall of this game. Go play a first person shooter.
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They have never, at any point, had even a million subs.
edit: As I said earlier, no official numbers for subs has ever been given. The most accurate (though still not entirely) is https://ffxivcensus.com/ Feel free to peruse the historical bits, there is a link to past census at the bottom of the page.
This is a bit like saying the thing you find most undesirable about cars is that they have wheels, and “go”.
How are gearing and raids detrimental to the MMO genre?
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50 years from now kids will be playing D&D with their robot friends with robots yelling "Lightning bolt! Lightning bolt! "
Your wife will be a 3D hologram and your nerd son will be playing this version of WOW saying how great it must have been back in the day.