It is perfectly possible to clear any content in the game without a static, all the way up to Ultimates, if people are willing to put in the effort. There are entire communities dedicated to running Savage and Ultimate content without the need for a group with set raid times and members. Is it more difficult than with a static, less reliable and will require more time? Probably, but it is not the barrier some people claim it to be. It's perfectly fair if someone finds it too much effort and therefore decide not to do it, but anyone pretending that not having a static is somehow an unsurmountable barrier to clearing content and getting loot from it is deluding themselves.
Of course, people trying to get carried leads to poisoning the well to a point where most will set their PF groups to "Duty Complete", making the difficulty actually ramp up the older the content becomes, as the pool of available players eventually filters down to those who for whatever reason have trouble clearing, be it lack of time, bad luck or lower skill. This is where the timegated gearing actually helps, at it slowly and smoothly lowers the skill required to clear by making DPS checks more lenient without taking away the challenge in the first few weeks. But this really is a different discussion from the original question of the loot lockout system, though it illustrates one of its merits.
Fear of missing out would imply that there is something to miss by not getting your BiS fast enough, which there is only a single instance of: Ultimates. Otherwise, every raid tier is unlocked a few weeks before the next patch where you might need the item level, that being the next patch with another Savage raid tier (6.18 or 6.19 will see P1-4S unlocked so people who truly had bad luck can grab the remaining gear they need from that tier in time for 6.2, etc.). Even then, Savage gear is already irrelevant by the time the next savage patch releases, as it is superseeded immediately by the new crafted sets with pentamelds, and then by the new tomestone currency gear. And with older tomestones being phased out, the now non-limited tomestones can then immediately buy the old unupgraded gear, meaning people are at most 10 iLevels behind the previous BiS iLevel.
XIV makes playing catchup with iLevel super easy and there is pretty much nothing to miss out on. Gear progression is too vertical in this game for that.
As for the one thing you can technically miss out on:
If you are getting ready for an Ultimate on a following patch, you have around 4 months to do so, which is twice the amount of weeks you'd actually need to fully gear assuming you clear everything week 1. This ensures even if you need both chest and weapon from the final floor of the current Savage, you can pull it off easily even if you never get any coffers. You'll even have a few weeks to spare left over since Ultimates release with a week delay, meaning you usually got around 16 weeks in total.
Even if you take your sweet time with it and get your first clear after a month, you'll still have more than enough time to at minimum get to maximum iLevel, maybe even get your BiS in time. And not ending up with your exact BiS would mostly be an obstacle for World First racers who probably have no issue getting Savage done week 1 anyway. Not everyone else will, but everyone will at least easily be the needed iLevel to queue in.
I am by no means saying gearing at the moment is perfect. I've laid this out in another thread before, but there is an argument to be made that Square should look more carefully into what will end up BiS. Some classes, due to varying amounts of tomestone gear required for their BiS will need significantly more/less time in order to reach it. If Square were to fix something about savage gearing, it should be that.


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