M+ had a competitive ilvl and was reigned in because it was too popular and undermining raiding. It now only competes in terms of weekly box, which is very slow relative to raiding (and temporality matters). Visions and Torghast both have extremely limited scope; visions was extremely short and limited in potential rewards and very, very unlikely to reward an actual upgrade, and Torghast rewards a single piece of one-and-done gear which then gets upgraded ad-infinitum.. and people do it.
With the exception of the first iteration of M+ (which was absolutely popular and was reigned in because of it), none of these systems are direct competitors with raiding from a player progression perspective. There is nothing out there that is an actual alternative to raiding, whereby you can say "nah, I don't like raiding.. I'll do this instead". Besides PvP, of course, which is even moreso reliant on a captive "loser" audience to prop up the winners.
Even the removal of 10 man raiding goes somewhat to show this idea of holding the majority hostage to prop the minority up. 10-man raiding was incredibly popular (in relative terms, compared with raiding in totality), and still remains a common request to this day. Blizzard ostensibly didn't want to deal with the balance issues between the two modes, while ignoring the fact that it doesn't actually matter if the balance between 10 and 25man raiding isn't exactly perfect unless they require them to be exactly equal, which isn't needed. Again; if people want to 25man raid they will 25man raid; if people can choose between 10 or 25 man raiding and choose 10man, its because they don't want to do 25man raids. Removing the mode to create a captive audience for those who want to raid 25man (now 20) is shoehorning the majority to fill the needs of the minority.