Plenty of argument against this and its been said a million times before.
My biggest annoyance with the market is that I can't actually buy the things that I want to buy. They aren't really thought of as useful and are lower tear gear, like Nordic Short War Sword, Heavy Board Shield, Straw hat (I WANT MY MW STRAW HAT DAMN IT!).
If you can buy loom points instead of loomed items, it does pretty much kill the market apart from selling tested gear and so on. Because it would just be a giant stack of competing prices on the same thing. But you could see the price of looms points fly all over the shop, the giddy highs of over priced crap the terrifying lows of reasonably price shit.
All I want for Christmas is an MW Straw hat is that so much to ask for! REALLY!