No matter how you string it the concept is still BS. It's like going to work because you need to get gas for your car, and after you get paid your car runs out of gas before you can get to the gas station, and then because you didn't make it to the gas station to buy the gas someone takes your money away.
It's kind of hard to make a choice about when you wipe given certain conditions too. For example the boss is at 2%, kills 3 people because of a DOT he throws out on everyone, has dots rolling on himself, in less than half a second the parties DOTs take him down, and then in less than half a second it kills the last member of the party. Sorry no loot for you.
The fact is the boss died. If the boss dies then you get loot. Period. End of discussion.