The amount of fanboys in this thread is astonishing really. Why not just admit that the current gearing system sucks? You really can't get over yourself to admit that?
There would be a lot of ways to improve the current situation. You could increase ilvl from higher mythic keys, add rewards for completing 2 chest or 3 chest m+ runs, increase drop chance of items in the raid, add a currency system from m+ dungeons which you can use to buy items from a merchant etc. etc.
The current system is bad. That's a fact. Stop defending it.