Your numbers are wrong. 1100 ten gives 5.5% dps while 1100 dh gives 6.9% dps. The tradeoff is then 1.4% dps for 5.5% mitigation.
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Dh melds are popular because they are the best dps stat. By your logic, dps would all be melding crit or skill speed since they can get more dh from gear...
1 point of ten from gear is the same effect as 1 point from melds. You get the same amount of tenacity from a meld as dh. Therefore it doesn't matter where you get it from, if you think ten is better than dh you should meld it.
I spent millions on DH melded i320 accessories (STR VI DH VI V V V) this weekend so I hope it is next gear tier.
But yeah, I have wondered if DH will be moved to "role stats" with tenacity and piety eventually since it seems healers/tanks are melding for it since it is strong at this tier of gear.
It is, Tenacity got all the same % on heal, dmg dealt and reduced. So is a bit of a gain over the other, while DH and CH have to proc, even if the % look very stable to me in a raid. Ten bonus is always there. But in the end, the dps of a tank is so low in a raid, especially in progression, that having that 5% increase doesn't really matter for the clear.
I think is more about personal preference, as pld I feel quite safe with my all block shield that I avoid tenacity in meld (aside an early game mistake :P); concentrating on DH, for the simple reason that having a very low number, actually 0%, even a light increase actually bring more benefit than any other secondary stats. Obviously the 100% is a str+40 otherwise, won't make sense to use right side penta melded.
Then why the heck is enmity gated behind str? Personally I see no benefit of tenacity to a war especially if they are ot simply given that all our 4.0 abilities are dps based hitting those direct hit FC/IB goes along way. However I do see a strong argument for Tenacity being popular for PLD. With the combined mitigation from blocking and defensive cds not being gated behind stances we could see PLD tanking in full tenacity in sword oath. Though this is merely speculation and its based on how yoshi p stated that it is a "powerful" stat and that's why they held back on it and you will only see its true nature in savage content.