Well, it means we have to do some more micro, but its for a good cause.
For population you don't have to pay, the raid part will help reduce the stacking of population. (if not for raiding i would have put 1000-1500 pop in all my villages, simply because i wouldn't have to worry about defense anymore, that way i could manage 10 fiefs all by myself)
To counter a raid you make sure you have equal equipment and troop count. If someone raids you, you won't waste equipment. 2-3 hours after attack if shows if it will be a raid or a siege, so you plan accordingly. If it is a raid, you don't do anything, if its a siege, you can put more gear in it. This way you don't needlessly lose gear, yet you can use population in case you get attacked.