I don't think I didn't understand. I just don't think he fleshed it out as much as you. For instance, he never said there was no best armor. He never mentioned the money sink.
He had a slightly different approach why there is no 'best' armor and I've been taking my own suggestions that I made a few posts later into account as well. His approach is that low quality armor is easier to repair (less money needed/materials for repair easier to obtain/less smithing skill needed), maybe even without a forge (like leather armor, you don't need a forge to exchange a few straps of leather). So if your high level armor is damaged, low level armor would be a good replacement for it and not just vendor trash. He mentioned the money sink as well.
To your first point and especially when you say the following: "I guess some people may not like this because they just want to run around and kill things without wasting time to think about anything."
This is just hyperbole. It's not that people don't want to waste time thinking about anything, it's that they don't want to waste time thinking about tedious, non-immersive chore-like activities. The activity I want to think about should be well thought out and executed. Otherwise, it feels like a worthless waste of my thoughts and time. Repairing and equipment swapping may be an involved thought process for you, but most do not find it challenging.
I exaggerated a bit, I agree. But if choosing your equipment depending on the situation you are in and planning ahead to make sure your equipment doesn't break while you are in a dangerous situation are a tedious, non-immersive chore-like activities to you, then I have to wonder what is an interesting activity. It's like choosing which spells to use against a certain enemy. In conclusion you would probably be happy if they removed fire/frost/shock spells and only left damage health spells in? That's what the combat part of the game is about imo. Choices. If I just have to click the left mouse button and maybe sometimes the right button to block while I have the best sword and the best shield equipped that's not very entertaining to me. Just like magic would svck if there was a single damage spell with different magnitudes, where the best spell is always the one with the highest magnitude.
And to your second point about there being no best armor, I'm with you on that. I think it would be nice to have varied advantages and disadvantages. I just don't think durability needs to be one of them. Having to search the world or spend ridiculous amounts of gold on a repair system sounds lame to me. I do not want to play a game where I'm constantly managing inventory because I need to carry around 3 sets of armor, 4 weapons, materials for repairing all of the stuff and whatever other small items I might be able to fit in my pack. That system sounds tedious to me. However, I am a lot happier now that I can keep a few sets of armor and weapons for various situations at my house, and just visit it to trade them out whenever I feel the need to.
Now you exaggerate as well. You will carry around materials anyway, you already admitted that you like the blacksmithing system - which needs materials. No one says you need 3 armor sets and 4 weapons. And what other small items? You can even choose to carry only 1 armor set and 1 weapon. If your equipment is of the reliable sort and if you keep it in good condition it won't break. What you make out of the system is up to you. Want to squeeze the last bit of additional damage you can get out of your equipment? Keep some fragile, but powerful high level equipment in perfect condition in your backpack for that boss fight. If you don't care, just use slightly worse, but more reliable equipment and be done with it. Just like you can use fire spells against creatures with 25% fire resist. It's not the most efficient way to fight them, but it works if you don't care about having a large selection of elemental damage spells in your spell book and if you think it's annoying and tedious to switch between different damage type spells.
And a money sink can be found elsewhere. For instance... Blacksmithing. It's going to take materials to make items. Materials cost gold or time. It's going to cost materials to improve items. Since you have no frame of reference for this specific economy, I'm going to assume you have no clue as to whether or not this game requires addition money sinks to help keep gold piles under control. How can you know they need an additional money sink if you have no idea how much gold is available in the world?
Agreed, this is speculation. Looking at previous ES games (and Fallout 3) it is a well-founded speculation though. Even if blacksmithing would cost a lot of money (which I doubt), it's just one activity. In Oblivion I didn't know where to spend my money, the only things worth buying at all were luxury goods like horses and houses.
By the way, Fallout 3 had a system that was similar in many regards. The sniper rifle would degrade really fast and it was hard to find spare parts to repair it. But it was one of the best weapons, so you had to decide when to use it instead of shooting every mole rat you encountered with it.