Should devs give up on raid content?

It's certainly not a new concept that raids make up one of the smallest player populations in MMOs while sucking up a considerable amount of development time. Turbine's essentially given up on them for Lord of the Rings Online, while WildStar is double-downing on them from the get-go.

In the interest of allocating resources -- money, time, and manpower -- to impact the game the most, should developers stop making raid content for MMOs? I'm not saying to give up on small-group content, as that's far more popular, but the giant raids that seem to appeal only to the most hardcore guilds. Would those resources be better spent developing content that the majority of the playerbase will experience?

TH

the variety of content is important and competition with progress.