In your rush to claim the sky is falling, you’re also seemingly ignoring the fact that they said that when you factor in the personal + guild tracks, the sum of rewards will (could) actually be GREATER than the previous rewards.
Of course there will be a catch. It’ll probably be r10 mats and some new character gated behind the featured raid. We also don’t know the frequency of new raid releases but I doubt it’ll be more than one a year, maybe two max. But on topic of knowing CG, they’re not churning out new raids on a monthly basis. As long as they continue to include a mix of legacy and newer factions, I don’t see the issue. If they made it gated to ONLY the latest releases, that would be problematic/exclusionary for a large section of the player base.
But for guilds like mine that can’t complete the CPit or r8+ level TW rewards anyway, I doubt we’ll see much difference in the new system. Actually it seems a lot better overall for most players.
In retrospect, a lot of changes that people were convinced where the WORST EVER(tm), have been pretty good overall. So I’m still relatively optimistic about this change.