Are Raid Timers Necessary in today's incarnation of DDO?

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As the title asks:

Are Raid Timers necessary in today's incarnation of DDO?

Observations:

• Current raids offer sub-par gear (or in the best case, equivalent) in comparison to the recently released Update 14 and Update 15 content. This makes existing raids less attractive and so run less frequently.
  
  • The exception is possibly the ESoS.
  
  
• Update 14 and Update 15 do not have timers to repeat the content allowing players to repeat the quests at their hearts content without fear of being locked out for a time.
  
  • The exception is "Caught in the Web" which many players feel the loot isn't attractive enough for the headache of running the quest.
    
    • Note: I said "many", not "most", "all", or "majority". I do not know the statistics and will refrain from posting an uninformed hypothesis, therefore using the term "many" to denote there is a general stigma conveyed by the forums and the community at large that "Caught in the Web" is not one to run for loot.
    
    
  
  
• Update 15 introduced a new DDO Store only item that allows you to bypass a Raid Timer for a single raid.
• Raids released prior to Update MA and LoB are rarely run at level. Having a full group at level is even more rare. This is due to:
  
  • (a) player not wanting to break their Bravery Bonus
  • (b) at level raids not providing adequate xp-per-minute
  
  

Relevant rhetoric:

Either timers serve an useful purpose, or they don't. If they do, bypassing them with money is very bad design. If they don't, turbine's putting a rock in the middle of the street just so they can charge us to remove it.

I am curious what the community thinks.