I think SE is making a mistake by having Exploration be "catch up" content.
Binding coil proved to be a terrible format for progression.

Having to wait 6 months for just 4 bosses gives little payoff for a long period of time. And its very exclusive, 90% of community can't find a group. And the small percentage that do, trivializes the content to a weekly hour run.
It serves more as an item level bottle neck than a fun experience.

Exploratory Islands has all the makings of leading endgame content.
+ FC inclusive (up to 24 players)
+ Items with random stats (near-infinite progression)
+ Lots of room for expansion (they can add uber versions of S-ranked mobs)
+ varying difficulty (they can range anywhere as easy a hunt or hard as a savage boss)
+ No weekly lockouts.

SE had it right with T6-9s. Savage was just an extra challenge for the small community of hardcore players and Alex savage should follow in the same footsteps. 3.2 should release both modes at the same time, normal for story, savage for challengers (titles/achievements/glamour) but no extra gear.

Meanwhile, Exploratory islands should have the high item level gear.