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The problem with different modes if raid instances is it would require a serious amount of extra work to test and balance 2-3 of them. Nerfing content over time is much easier, as it doesnt really matter if the nerf is 100% perfect, if will just slightly change the new limit of who can access the content, and if it didnt get nerfed enough, they can just nerf it a bit mre the next patch. Its incremental raid nerfing, while the others are supposed to be balanced from the get-go.
Just as well as timed rewards doesnt require as much testing, since its the exact same bosses as before.
Heroic 5 mans themselves shows how much extra work had to go into this, and for the first many month after TBC they were hardly tuned very well, and even today, its very debatable if Heroics are well-tuned at all (they went through the same nerf cycles as raids do, which kinda kills the point of having these different modes in the first place).
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