I agree in general, though there are two points I'd like to add.
(1) Issues that crop up often aren't minor, unless you define 'issues' as purely unintended bugs. From a broader user experience standpoint, SE has an absolutely atrocious record. They've ignored class balance issues for entire expansion cycles; they still haven't fully fixed housing; they still haven't fully fixed Glamours. They haven't properly resolved the MSQ missions at the end of ARR, and arguably made matters worse with this latest change. These issues shouldn't be properly classified as bugs, but they are absolutely 'issues' in the broader sense of the word - major ones, and ones that often go unresolved for months or years.
(2) I don't know that the player base is wanting SE to prioritize steady and rapidly-paced update cycles at the expense of creative and ambitious content anymore. It made perfect sense early in ARR's lifespan, when there were only a handful of level-cap dungeons, one 24-person Raid, and one end-game Raid. Fine. Now, I'm not so sure. SE's job is to support FFXIV in the best way possible; that doesn't just mean releasing new content without bugs.
This is a good possibility. That said, I'd be very interested in a more formal explanation. Diadem (both iterations) and Eureka have been such disappointing flops for so many players, SE would be well-advised to open up the floodgates and actually communicate with players. Distribute a survey, share the overall results, discuss it in a Live Letter. I happen to think FFXIV has one of the most forgiving fan bases on the planet. Many of us already stuck with the game throughout the debacle that was XIV 1.0. That said, speaking personally, I need to be thrown a bone. I need to feel like the development team is aware of the concerns I have, concerns that appear to be shared by a not-insignificant portion of the player base. The deafening silence from the development team is going to become a problem very quickly, as it always does, and SE would be well-advised to get out in front of it and be proactive.