Sure, the game is fine without "raids" but it still could use some kind of content other than just grinding outdoor events or instances that are largely faceroll exercizes. The entire, "The whole game is endgame" thing is just weak. Really, really weak. It is absolutely nothing special at all and amounts to nothing more than marketing nonsense.
Use WoW as an example. (Just because it's convenient, don't start with the "This isn't WoW! " stuff, guys.) Don't want to raid? Don't want to be on the "gear treadmill"? Then don't. No one is forcing you. Go out and complete all the zones, level alts, collect pets, mounts, or achievements. Farm up gold. Play the auction house. There's a TON to do if you're going to judge content by the GW2 model where exploring, completing zones, and doing events are treated as "endgame". (Of course that's mostly because WoW is so old, to be fair.)