Err... people do heroic 5-mans all the time, and deal with their preferred loot not dropping or being scarfed up by someone else all the time. And outside the Zandalari heroics, it's just not practical to random to get a second chance to get that gear within a single lockout.

That's exactly the same thing here, only since it's a raid, it's on a weekly lockout instead of a daily one.

"Then of course, there is the loot rules. Even if a player got nothing from it, they can't get a chance again?"

And how is that different from normal raiding now? Today in regular raids, you get one kill per week of each boss and hence one chance to loot each boss each week.

The raid finder is exactly the same in terms of loot. OK you may get to kill the same boss more than once a week, but it would be totally unfair to allow you to loot any specific boss more than once a week.

The Raid Leader will have all the responsibility to lead the fights and explain the strats, which will be made harder than in a normal raid, since you have to type everything. Let's just assume someone will create a mod (like RobBossMods) that will post strats to raid chat. The problem seems to be that he will have no power to enforce his leadership decisions. Very limited kick powers and no loot powers. What does he do if some of the raid disagrees with the way he is running things?