i think without loot pressure, GMs would have to tailor-decide the loot for every creature individually - and adjust it as needed - which, at least if you were concerned about balance, would also need to track profession, race, gear, and training changes. instead of that, they just automated it with loot pressure to make it self-correcting.
i can't imagine anyone on the development side would want to remove it and give themselves that job. i'm not saying they won't, or that it's impossible for it to change - it's just why i think there never seems to be any talk on the development side of ever changing it - not that i have seen, at least.
one major effect of implementing loot pressure was preventing strip mining - but this was only really relevant at the lower levels. the post-cap area treasure base was so high that even the 15-25 or whatever MA groups couldn't affect the loot in SoS despite pulling out 500 mil/month, for instance. whereas a lower-level area would be affected at just 10 mil flat. note that this kind of dynamic influence from one person is, in my observation, entirely impossible now with the advent of loot cap
if ME loot is too low, it's because the area is too easy (or convenient, or pretty, or people's love for vampires) for some statistical majority for whatever reason. i know i'm basically killing kobolds if i go there, but i don't count
SG, on the other hand, is both hard (i guess?) and hard to get to, so i'm sure its treasure is great - guaranteeing some point in going there. although with loot cap, this "point" is obviously laughably irrelevant at this point in the loot game. you'd only go to SG if you particularly enjoy it for other reasons - not loot, imo