I don't think that anyone who's being rational about this wants hunts nerfed to the ground. There's a definite desire for this content that should be respected. However, with the current reward system in place, it makes almost all other content in the game irrelevant. Add that to the secretive nature of the hunt, and the fact that you have a single group(fc or linkshell) organizing most hunt activities on most servers, then you have a huge part of the population forced doing content that they don't want to do, and another huge part who want to hunt that can't, due to not being included.

The only way SE can fix this, imo, is if they balance this as a separate progression path. That also means it has to be worthwhile to do, but not be more worthwhile than the standard path so that players can choose which they'd like to do without being penalized.