Unfortunately I think we are much too far down the rabbit hole. I agree they should have just fleshed out dungeons/non-raiding activities instead of complicating raiding. I think heroic raids are stupid. Why would I want to do the same raid with a new mechanic? That's boring. I'd rather go back to the dungeons-->heroics-->10 man-->25 man in terms of difficulty. Just give more to each level instead of make multiple versions of the same thing.
Blizz is making the same mistake with the timed runs (the name escapes me...challenge modes?) versus adding new content. Financially this makes sense, same with LFR/normal/heroic. It's easier to switch some numbers than to make a whole thing content. I would rather them remake old raids than to do the same raid 100 times each patch. I'd rather have MC/BWL/BT/Hyjal etc scaled up. Hell, give them the same drops, who cares? That seems easy enough, just like adding lfr/normal/heroic. Just tweak numbers. I'd rather say "OK team, we are doing MC/BWL this week for drops, next week we are doing BT/Hyjal/Sunwell, then we are doing Naxx/Ulduar" etc. That sounds fun to me. I know I can do those now, but there's no progression.