I agree on some of your points, and disagree on others - but I find your argument that Ultimate was a failure is heavily mired in a biased vitriol based on the bolded comment above and undermines your position immensely. You sound like one of those bitter people who either don't have the skill or time to get into raiding and then blaming the raiders for just existing because of either your inability to perform or inability to participate.
For the record - I didn't find Ultimate to be a failure. It was designed for a very niche subset of raiders when raiders are already a smaller subset of the player base as a whole. Just because the content isn't being run 24/7 doesn't mean it's a failure. It was aimed at it's intended audience and it hit the intended audience with a bullseye. I'm not even a hardcore top 1% raider but I certainly enjoyed watching the massive amount of precision, skill, and raw endurance necessary to execute the content perfectly. If I enjoyed it by watching it from the outside, then there are others like me who enjoyed it too. We might be a small subset but we do exist and the content makes us happy to watch.
And I guess just to quote you.
"Protest all you like, I say its a success and it is."