Personally, I play to raid. I do not want my raid to run into a brick wall because the available character pool of replacements is tiny because it is too time consuming for the majority of players to gear up. Why does gear mean a lot less emotionally to most folk now than it does in vanilla? Well it should be pretty obvious by now that all gear is transitory. Odds are any active toon will replace most of their gear every 6 months or so. Getting all misty eyed over individual pieces is kind of pointless given that fact.
Do I think heroics should be faceroll easy? Absolutely not. Cata heroics require you to know your class. If the valor point earned-per-week cap is set low enough that almost all raiders can hit the cap through raiding alone the Cata heroics will STAY hard because the majority of people who seriously outgear them with raid gear just won't be running them. Under those conditions, people who have built up gear sets out of heroics really will have earned them.
EDIT: What matters most to serious raiders is skill, translated as what you've managed to do and when you managed to do it. This is as it should be. No matter what gear the vast majority of players have or can get, the hardest encounters of the game are still going to be beyond most, at least within the current expansion.