I agree with you to some extent, but I doubt it has to do with attracting talent. If the core membership wants to stop, the guild disbands typically and that sounds like what is happening here.
They're also right that you essentially have to have no life to raid as a top 10 guild (no, I'm not talking about people who sit on the bench and attend half the time compared to others). However, I don't really think this has ever changed. In Vanilla, it was farming mats for hours. In Mists, it is alts, alt raids, playing the AH to get gold for BMAH gear, etc.