Mostly agree with what’s laid out here, but I don’t realistically think its affecting raid participation at all. I think the far more pressing matter is that it affects M+ participation in the opposite direction.
Loot from m+ being infinitely farmable is a large issue that forces raiders to spend a LOT of time doing it if they want to really take it seriously and raid at a higher level. I don’t see an issue with something like putting a weekly M0 type of lockout on dungeons. I believe it would make it comparable to raid loot farmability. You’d have a shot at loot from the 8 dungeons per week one time each, then the vault, which mostly reflects the chances at loot you would get from raid from 9-12 bosses (depending on tier) plus that vault.
I almost exclusively play the game for M+, I don’t actually much care at all for raiding but the last thing I want to see as someone who already doesn’t like being forced to raid for some specific piece that I want in order to perform in M+, is raiders being in the same boat where they have to run M+ for something to raid properly. It encourages bitterness, causes burnout, and has the effect of making one type of content feel comparatively useless from a rewards standpoint.
Hopefully in TWW we’ll see some changes to make the loot acquisition a bit fairer to raiders.