The thing that ***** me to tears about HM LI is that's just plain annoying for what it rewards.
It's nice to say that it's to provide a challenge but so does EV and KP which are a lot more interesting and drop better stuff.
The purpose of LI is not to get geared, it's to become experienced handling mechanics that aren't easily ignored. Would you prefer Bioware reducing the difficulty of LI HM and then having players who have very little experience with wipe-causing mechanics running through EV and KP? That is a massive learning curve that can be overcome if you are part of a PVE guild who has the patience to explain everything to you, but what happens if you are just a casual player who is unguilded and needs a challenging lesson in how to deal with mechanics? Send them straight into an op after having dealt with a weaker LI HM, or keep LI HM at full strength, let them spend time wiping in it and learning every mechanic there is to learn, get a rakata chest and mainhand and then come into an op with some knowledge about what to expect and how to deal with it. They will be better geared both in armour and in experience.
Not everything is about the gear drops. Stop believing that you require a reward because you ran through a maze and did good. Rats get rewarded for doing that, are you a rat?