Just extrapolated it from our run current raid damage, this looks about right. So basically if your guild is not composed of 50 super hardcore members you get stuck to play the normal mode raid which feels designed to slow progression drastically.
At 34.000.000 a guild would need roughly 125 squads to clear just phase 1. That's half the maximum amount of squads a guild is allowed to use before a reset. And for most guilds it is more since they either don't have 50 players available at a given raid or don't have everyone with 5 maxed up squads. It feels a lot worse than Rancor T6 / T7 ratios used to be.
It is a pity normal mode clearance was not mandatory to unlock heroic. We would have then been able to get Team Instinct and other VIP to comment on this aspect of the new raid rather than see them bypass it and wipe the floor in less than 1 hour with the end game content.