Loot will be the same, and phases will last less. Imagine the drama when a Warrior with 100 less DPS than other Warrior wins a bis item or when a Rogue or Hunter get another. Since buying gear is no longer allowed it’s going to be a very toxic environment for melee classes, warriors rolling for every item leather, mail or plate, then rogues losing leather to warriors and hunters. Warriors complaining that classes with less dps are winning their bis items. Warrior tanks leaving guilds/groups/raids because “too much melees” or because they don’t get loot priority.
Rogues and Hunters at least are decent but I feel bad for those planning to play ret, feral or enhancement who are going to have a hard time finding a guild/raid since I already saw a lot of guilds refusing the so called “meme” specs. All those grown-up babies couldn’t bear losing a bis item against those specs.