I will start by stating that raiding with my guild mates is one of the more enjoyable experiences within Destiny so I cannot truthfully say that I am not disappointed that there will be no raid released with HoW. That being said I know enough about game development and the sheer amount of work that goes into make any amount content to the quality that the developers aspire to and the gamers demand. As such I do not have any issue with Bungie delaying the release of raid content if it means not getting something rushed/half-assed when it is released. While I think there may be some validity to the question of content to $$ given that HoW will have less content than TDB yet cost the same amount of money I do think it is being blown WAY out of proportion given the very valid points made by the OP about how the typical adult human person spends money on a day to day basis for entertainment or other. If Bungie nails the 3 man Arena it may prove to be just as enjoyable if not more so than raiding in its current evolution. Also with the highly implied upgrade paths to existing raid gear (and possibly other legendary gear) to the new level cap Bungie has the opportunity to introduce higher leveled versions of the existing raids (as I believe they should have done with TDB) to give players an additional reason to revisit their favorite haunts.