The problem is not the DPS meter, it is the way that TOO MANY players think it is the end-all-be-all.
As to your question about what to do if a raid group cannot beat a rage timer....Ever here the phrase, "walk away." There are times when an operation group you are in simply cannot cut it. A good leader will know when it is time to simply walk away - DPS meter or not.
That fine for some people but if you actually want to progress then walking away isn't going to help. Sometimes you need to pull a few weeds in order to continue.