If you believe the forums you'd think that the average LFR or even WQ exclusive player is running around in full Anthorus Mythic if not close to 980+ ilvl. The 'culprit' of this epic max expansion loot fiesta is the 'hideous' undeserved Titanforging system.
Problem is: it is simply not true.
I've been playing on my main since near start expansion. On that character I have killed over 1.000 Raid bosses on N or higher, done over 2.500 WQ's, most related to Emissaries, ran 700 M+ instances on record.
The highest TF I have ever seen in all that looting is a +35 (once, on a useless trinket form a M+). Looking at guildies and the pugs I ran with, I'm most certainly not an outlier on the RNG spectrum.
Does that mean there has never been a +50 or even higher TF in the history of Legion? Of course not. There are 4 million players, and due to the network effect I'm sure everyone has heard from a friend who's friend told him that a friend of theirs was in an LFR where some guy was dropped 970 boots with a socket.
But that is not a 'common' occurrence. It has odds like winning the lottery. The chances are abysmally low, and basing your gearing 'strategy' on running content in the hopes of things forging beyond a +15 can be considered a pure waste of time. Even hard min/max'ers should learn this simple rule.
That girl in your guild that was running high M+ keys 24x7 will probably not have much if any of an equipped ilvl gain over the others that just did the weekly HC Anthorus clear and the single +15.
TF is a great system in that it gives the promise of getting a potential progression reward, albeit with diminishing probabilities. It is the foundation on which 'lasting' content is built. Without it, WQ's would be done after leveling, dungeons would be 'done' soon after hitting level cap, and raids would be done after checkboxiing 95% of your 'BiS' list. You'ld spend the rest of your days waiting for the next raid tier to drop, complaining in trade and on the forums about how the xpac is devoid of content.
TF keeps it fresh, and I hope it stays as is in BfA.