I think what you are missing here is that if a mechanic kills you (or wipes you) regardless of gear then overgearing the raid is meaningless in terms of progressing. Getting better gear doesn't help people who are trying to get past the mechanics do so any faster or easier. Even your own argument is solely based on being able to blast through content you have on farm even faster with better gear. This is my main problem with trying to get into Savages, no matter how much ilvl I've been able to pile up (592 on my main DPS) I am still going to have to put an enormous amount of time progressing at a much slower pace with a much lower chance of success. There is no natural lessening of the difficulty that you see in other MMOs due to increased gear due to the sheer number of pass/fail mechanics where failure means death/wipe regardless of gear level. It really feels like a single mistake means the end, start over.
It is less the fear of failure (granted it is that too) and more the fear of putting in dozens of hours to learn something and still having no success. It feel like Savage is really bad in terms of time investment vs reward unless you have a dedicated static. And I think that's what it boils down to. Even if you are trying to PuG the content you have to put in static amounts of time and effort, but actually it's considerably more because there is no uniformity between one prog group and the next.
I don't see how you can say with a straight face that current Savages are not MUCH harder than Normals and significantly harder than current Ex. From the discussions I've had with other people who have cleared p3s and p4s, the only one they think is even close to Ex2/3 difficulty is p1s, anything beyond that isn't even in the same ballpark. Reiterating my previous argument it's the difference between raidfinder difficulty and mythic difficulty in WoW with nothing in between. This essentially cuts out an entire group of mid-level raiders.
I just don't feel like the odds are in my favor having any kind of success this late in the tier. Without a static you are essentially stuck in the prog stage indefinitely until you get absurdly lucky and get a clear and can move into Duty Complete parties or eventually give up (which seems more likely given the sheer number of repeat PF postings I see day after day, week after week)