I don't think a revamp is necessary. The mechanics are good and fun and minimum item level it was one of the toughest alliance raids because we had to do regular tankswaps and burn through cooldowns in World of Darkness to survive the auto attacks. As you said, it is item level creep and they could just make them all minimum item level.

They could adjust mechanic indicators like they did in the MSQ dungeons, but I think the biggest improvement they could make is to combine the maps and reduce loading screens.

The reason people leave these raids isn't just because of how braindead they have become but because as the lowest level alliance raid and because of it being required, it's going to be the most frequently queued for by new players and drag people in a little more frequently than the others.

I would have to argue that most of the community likes braindead content otherwise they would do all their unsync farms at minimum item level.