Some games call it different, I guess in this game RAID is 8man+ according to the DF. Regardless if it's 8-man or 24-man+, I think the OP is clearly talking about the second one. My experience in other MMOs finds that a "good raid" is not a single party but a group composed by more groups. Let's say, for example, 3 full parties. Content intended to be clear by a huge amount of players.