I would say its both.
Tues is great as there is tons of content then by wed I have nothing to do but try to pug higher difficulties of the raid or M+. The daily activities are the maw which due to its eye mechanic limit it to about 20 min or less a day. And the emissary which is about 10 min a day. This speaks in a huge way to time gating.
With the low drop rates you have to grind a great deal more M+/Raids to get the same gear as previously. Just to get to the next difficulty and have to restart the grind all over again for the same items just with a higher ilvl. This speaks to the soulless grind people are facing.
So we have the worst of both worlds. On top of older content (which is usually a good source of enjoyment and gold farming) being scaled and thus taking even longer then normal.