Obviously, the last post was a bit tongue-in-cheek. But I think it does have valid point. To a lot of people, the challenge is an essential part of raiding. In my opinion, there is no greater rush in WoW than defeating a boss who has been wiping your guild for weeks.
In some ways, your kill needs meaning, and for it to be meaningful you must consider the boss a worthy opponent. The boss earns your respect by repeatedly wiping your guild over and over. One-shot kills are meaningless. There's no sense of progression, of getting better and better, of attaining mastery of that fight.
The fight I loved best in TBC was Moroes, despite it being the second fight in the raiding game. When you beat Moroes, it really felt like you had mastered the challenge, that you beat it by becoming more skilled.
But having a challenge means that some people will fail to meet that challenge. And that often gates content. The complaint that paying the same amount of money should at least entitle you to see all the content, to see all the story, is also reasonable.
I think the solution Blizzard has chosen--a relatively easy main path that allows you view all the content, with harder challenges that are optional--is probably the best solution. And I believe that rewards need to scale with the challenge. The best rewards should come from the hardest challenges.
One issue that I think has really made the situation worse than it should be is that the gap in skill between the high and low ends of the playerbase is excessively large. For example, I thought Karazhan was perfectly tuned for an entry level raid. The theoretical max DPS in 70 blues was around 900. Karazhan was tuned for about 500 DPS. I thought that 55% of max seemed reasonable for an entry level raid. But apparently most people disagreed with me.
I think the game would be a lot healthier if the low and high ends were closer in skill, if there wasn't so much variance. But I'm not sure how you would accomplish that. Maybe you'd have to change mechanics so that skill mattered much less, and gear mattered more.