The loot was very bad for me too, so I moved on my lowbies to get extra exp.. so i must be an other liar...
With that said, i do agree that the +1 loot do not bring more people in the game and do not help the game at all. Why would you ask? Cause it make the rift between weekend players and hard core "i do not work" player even greater. They play like crazy, got amazing stuff, making there character a lot stronger then yours... Anyway.. just my opinion.