Yes HM LI is a bit silly, considering that flashpoints are the bread and butter for casual players making it inaccessible to many causuals (due to skill & gear requirements) sort of defeats the purpose.
Dont consider HM LI as a flashpoint, it's basicly a mini raid for all the players who QQ'd in the first 3 months about how easy the game was. I agree if BW continue down this path it will hurt them in the back pocket, but if your willing to learn and go back week after week then eventually you will succeed in completing this flashpoint. HM LI is a gear & skill check, both which will improve over time if you have the patience and desire to complete it.
p.s. I run this flashpoint (mini raid ) with the same 4 people each week, we are only starting to cycle one player out to take fellow guildies through one at a time. I would never pug this flashpoint, and suggest you dont either at this stage of the game until most players well and truly outgear HM LI. Find 3 other like minded players and chip away at it, but pugging it will only cause frustration.