Far from it: but asking for challenging 1 group dungeons is not the same thing as asking for BiS loot. Honestly: I can queue for dungeons and have some fun, in raids I get bored. I enjoyed 10 men raiding in LK and Cata, now now anymore, I prefer smaller group content. Loot? As long as it's functional to give me a parallel level of progression, I couldn't give a shit what ilvl it is. What I care about is 1 group content progression, not 8 dungeons at release and fuck all for 2 years after.
Raids can go DIAF for what I care. LFR is so fun I can't even outlast the queueing time nowadays.