the lack of backstory for the raid bosses in the last two is due to the lack of story in the annual pass. (im certain the shadowkeep raid will have lots of buildup) and as for loot, this is a problem we’ve had since kings fall (seriously, aside from smite of merain and the lmg, the loot in that raid feels pretty weak, and the same applies for most of the wrath loot) so this issue is not one that originated or solely applies to d2’s raids
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Regarding the loot, at the very least most of the Wrath loot was unique and shined in a certain role, where most of these new raid weapons just seem to be average guns that look slightly different. These new ones are literally just D1 weapons with a different skin.