The OP is exactly correct.
1) I'm a burg and grouped with a champ. He gets 5x the loot and XP that I get. He finishes kill X mobs quests faster and has to wait for me.
2) I'm an off tank and I don't fight the boss or named mob. I don't get credit for the named kill, so everyone has to wait and do it over, or else move on and I can't complete the quest
3) I am a LM or captain focused on buffing people. Like the burg, I get fewer kills and less loot than my fellows.
I get it that there are people who defend the open tapping, mostly using a 'quit crying it's not that bad' argument. However, nobody was complaining about how groups shared experience and loot before, and nobody has made a reasonable argument as to why this change to groups loot/xp/kill counts is better than it was before.
Sure, like most people I play solo *most* of the time, but I used to have have fun grouping (especially my kids) for a variety of reasons - tough fights that required coordination, speeding up deeds, doing quests to help the younger less skilled people in my household level up. Now all of these are negatively affected. The kids have stopped playing, and I would cancel my subscription, except it is a lifetime subscription.
Please Turbine, put the rules back the way they were for groups. This was a terrible idea.