The raids are awful for a few reasons. Mainly, these three:
1. There's only -blam!-ing two of them, so they get stale REALLY quick
2. You can only get the rewards once per week. So unless you have multiple characters (and thus, I have to assume, are a -blam!-ing masochist), the other times you're raiding you're basically doing it out of the kindness of your heart. Engrams don't drop during raids, right? So there's literally NO REASON to do them except maybe for Eris Morn bounties, which are the worst bounties in the game. Well, tied with Iron Banner.
3. The raids themselves are boring, and they also share a ton of mechanics. It's basically insulting. "Grab this thing! Okay, you grabbed this thing, now kill this guy/these guys! Okey dokey, NOW you can hit the big bad for damage! Rinse and repeat!"
Let's not forget our favorite mechanic, the "let's kill this thing within a certain amount of time or else EVERYONE dies." One of the worst goddamn mechanics you can find in a video game, especially for one that has a KNOWN BUG that destroys your heavy ammo (re: the stuff that does good goddamn damage).
tl:dr The raids in Destiny are awful and I agree with most of what OP says.
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Following up on my last point, I won't back down on that. The Oracles and the Oversoul or whatever that thing is called are -blam!-ing stupid. It's artificial difficulty. It destroys the whole idea of a group of people going on a raid. It has to be one of the cheapest things I've encountered in an FPS, and they put it in BOTH raids, and I'm sure it'll be in the HoW raid, too, because why the hell not.