Loot lockouts would be fine if we could gear all jobs at once.

They would also be fine if there was enough content to explore that the lockout didn't take away much of the reason to play.

Lockouts are fine alone, as artificial ways to elongate a (current) lack of content they are not fine.

They are also not fine if they force you to not make use of a feature the game is supposed to be built around (Armoury).