Lets have a look at the avalible content outside of raidlogging ST:
Nightmare Portals: The exp and gold have been nerfed, making this an inferior form of leveling to simply spamming ZF or portentially even questing normally, and it is no longer a good source of gold @ cap. In addition, the rewards, especially the epics at Exalted are mediocre if not flat out bad for (almsot)every class.
BGs: Both WSG and AB have more time efficent ways to farm rep via the Ashenvale and Bloodmoon PvP events, and HPH with no premades is generally terrible, causing a lack of players queueing, while this is potentially a good way (maybe the best with Commendation Nerf) way to farm honor, queue times are long (20 min and up to an hour outside of peak times) and once again the reward structure is lackluster at best, farming r7 is basically just a layup for future ranking in p4 assuming gear later on is decent.
Bloodmoon: The new items range from must haves to in my case terrible. So there is incentive to do bloodmoon, but getting the coins needed for your 1 new item likely takes you 1-2 attempts, otherwise, the only incentive is farming AB rep, which given gear scaling will likely provide worthless or quickly replaced gear next phase regardless.
Dungeon Farm: There are a few new pieces of important loot, but given the bugs (which I suppose are allegedly fixed) the only outstanding item is BoED, which has a drop rate somewhere between .3% and 1%, you could endlessly farm it or just snag one of the 4 decent caster weapons from raid.
Essence farm: Is fine, rather grindy, doable very quickly and offers potentially 1-2 good items per person, likely an activity you can do in an afternoon.
The sad but unfortunate question is, why do anything but raid, most of the alternative gearing options are bland, borderline useless, or flat out bad, people aren’t queuing BGs, Bloodmoon will have a player pop decline soon, the nightmare incursions while cool in theory offer no substantial rewards.
p3 has missed one of the core tenants of what makes classic generally good, and thats meaningful work for a meaningful reward.