What the content is specifically doesn't matter.
The issue is walling off content, and making people buy things that they've previously purchased in order to get that content.
What if the TTK collector's edition was the only way to get the Raid? You'd be singing a different tune, I'd bet.
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Yeah because a raid is simething I care about, and a couple of emotes are not something I really care about. Don't tell me "what if..." because it's not the way it is so it's competely irrelevant.
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Not the point what the content is. Point is the practice - make something they think they players will really want, and put it behind a paywall that means paying more for the same content if you're an existing player.