Well, as I raid AND do LFR, I'm gonna have to discredit your statement. I mainly do LFR, as it allows me to enter and complete them when I have the time to, not on a set schedule with my guild. I also raid when I am able to make the scheduled run. Before LFR, I was a raider (except for Cata, but that was due to having a kid to take care of then). When I came back in MoP, I wanted to raid still, but having to work 40+ hours a week and take time for my family took away from that, so I did LFR when I had the time (usually late at night).
If LFR didn't exist, I would find different things to do to enjoy the game I love... maybe I'd be an idiot and neglect my family to continue raiding, maybe I'd just spend more time doing pet battles... who knows?
The point is, LFR isn't the only thing we have at end-game. It just allows us one more option.