You want a player that requires full Columi to get a direct gear upgrading from fighting every boss in the HM LI. I understand that.
But since HM LI has no lockout, it would become an unlimited Rakata farming spot. This is why dropping one piece of Rakata at the very end is fair.
In case you hadn't noticed rakata isn't exactly BiS anymore, in fact it's much easier to obtain black hole now than it is to farm the obsolete operation gear.
I believe drops across the board need to be looked at, not just LI HM or harder flashpoints but HM ops as well. Since black hole the gearing system has been a bit backwards, you're likely now to have better gear than half the drops by time you step into a HM op, which is why people tend to stop after they've done their first two bosses for the weekly because there's no point in continuing for lesser gear drops and rewards.
Same with LI HM, what's the point in downing the droid again in the week when you only get some tionese crystals? The sense of achievement fades fast and it becomes a pointless exercise.
There needs to be better drops to keep people playing, even if it's not just better raid gear but something like random cartel market drops or something along those lines.