The loot that drops out of flashpoints and hardmodes, although much more appropriate now than when the game first launched, is woefully low.
With the current level of gear, I think it would be much more appropriate for someone to be able to get their full set of Rakata armor (not weapon or offhand though) from Hardmode Flashpoints alone.
Particularly with how difficult Lost Island is. I would much rather do a hardmode EV or KP for one week than ever go to Lost Island in full Columi.
Gear progression outside of operations is stagnant and in no way able to prepare someone to participate in the harder raiding content.
Note: I say this as someone who weekly clears all the way up to Hardmode TFB on a weekly basis. We seem to be making great progress in NiM EC too.
You can already do 2 weekly's from areas (Black Hole and Section X), get 35 BH comms a week facerolling through a Group Finder FP, and do the flight mission with gives a couple BH's. That's plenty of ilvl61 gear. They don't need to start giving away Rakata gear as well since Rakata is barely an upgrade over Columi. The jump from Tionese to Columi is big... Rakata is negligible. It's fine the way it is.