I think it is brilliant. Raids or even just xp areas are an unknown again. You have to just try it and see what happens.
Back in 69 when I was doing all this we knew going into something new that we were in for alot of rough nights. Guild chat was full of movie quotes like "Ready to eat your own guts and ask for seconds?". This server will bring a bit of that back; scale back the crazy player power that is so much higher than the old days.
There was a real sense of awe fighting something that could trash a whole raid in seconds. When you finally beat it you remember chat being full of "this is impossible" your first few fights, maybe days or weeks before.
This to me is an adventure server for adventurers. Risk takers will be rewarded. People with lots of knowledge of odd locations and plunder will be rewarded. It's new, and good, and I think will make some new opportunities for glory again.