The loot lockout wouldn't work for coil because it's not a DF instance like CT.
A group can easily carry one or two people through 1-4 and get them geared up easily
As it is current endgame, I do not wish to see unskilled players getting carried by friends/buying runs to get the best gear
When I see people asking for the loot lockout for coil, I assume this is exactly what they want to happen.
And for people who are saying coil is challenging due to RNG, lol. You are guaranteed 2 drops, each turn (except 3), for 8 people. That's a hell of a lot better than most games with similarly long lockouts, looting the boss, and seeing nothing but some gold. Sure DRG and MNK stuff drops a lot more often, but it's still guaranteed to be there. As a healer I've only gotten 2 pieces due to bad luck, and its nbd, since I know i have 2 chests per turn to try my luck again and none of them will just be empty.

On the otherhand, I think loot lockout is a silly idea in the first place, since very few people will want to DF CT after they get the piece they need for the week, but it at least makes more sense than doing that system to an instance that is pre-made group only
The idea of having the lockout be per-class is pretty neat.