I'm over here in complete agreement, if you play well you will do well as fury. I'm Swantonbomb from <Fused> on NAFrom someone who plays fairly competitively and is currently in a 7/7 Mythic EN and 1/3 Mythic EN I'll try and provide some anecdotal insight.
I have found the PvE side of things to be very rewarding with fury, many will tell you that you can only raid at normal and heroic as fury because it's bad for Mythic, which simply isn't true. Assuming you're not in a bleeding edge guild then fury is both competitive, and viable. Once you start to get in to the min/max side of things and start looking at guilds who class stack and push for world first then my prior statement would change, but I don't think that's the side of things you'll be playing the game from.
The dmg taken really is negligible given the extra HP, I have never died to something I didn't deserve to die to. In-fact I have survived certain situations where I should have probably died but as enrage was off and we have an inflated HP pool I actually survived (eg Stunned on a Shattering spear during Mythic Odyn last week. leaving me on 4%).
Fury is also viable for 5 man content with the burst potential of Odyns Fury, the sustained AoE from War Machine & Wrecking Ball and the utility from Shockwave you can't really go wrong. Last week I 2 chested a 13 and completed a 15.
If fury is the spec you want to play because you find it fun then do so, if you're a competent player and play your class/spec correctly then you can achieve what the game has to offer, you shouldn't feel shoehorned in to going arms because the top 10 players in the world are arms.
If you want to see how well I do as fury in comparison to the other DPS in my guild then you can search for Character Coburn, Guild Exception on Bloodfeather EU on warcraft logs (Noxxic is terribly unreliable and shouldn't be used as a source of rankings)
I have not PvP'd as fury so I cannot comment on that side of things.
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