Honestly, yes. This has been a thing with MMOs from way before WoW. You put in the grind to get the reward. MMOs have always been Skinner Boxes from day one.
The journey is the MSQ, everything else is side content that is optional so it needs worthwhile rewards.
And the question shouldn't be why should you help with new X when Y drops better, but why doesn't new X drop at least equal to Y as a horizontal progression.