Hey, you know if you want to go out there to PvP just to PvP, nothing is stopping you. But that fact is, the majority of people won't go out there just for the sake of PvPing unless they feel they're getting something for their time. It's sad, I know. But it's the way it is. If you have a suggestion to change the way most of these people think, well then that would work too I suppose. You say you would rather play warzones, but how is that different from killing a boss? You're doing something where the primary goal is to complete a PvE objective while the PvP is secondary.
But that fact is, right now people aren't going to spend time out there when they can play warzones that have more action, offer better rewards, and are far more accessible. The reason I suggest killing a "raid boss" is because it takes effort from the entire faction to work together to defeat the boss while fighting off the other faction trying to defend him. Ilum is supposed to be an objective based zone. If you want straight up PvP, that's what Outlaw's Den is for.
Well I'm sure some people would cry if the other faction did get stuff they didn't, but hey it's better than the ghost town it is now. I can see more people actually enjoying having something to do out there even if it means the other faction gets something.
There's no way to balance faction vs. faction without limiting the number of people on each side, which we know it's too late for that. Even then, it's not always going to be balanced. The only other way would be to limit the amount of people for each faction for the zone which kind of defeats the purpose of an open PvP zone and excludes people from participating. I play Empire and I'm fine with Republic getting stuff we wouldn't if it means it actually gives them a reason to go out and not have to worry about being zerged down.
As for the boss being farmed, they could easily put a lock out timer on it.