That's what I'm more or less going for. Repairing 5% or 13 points out of 100 doesn't really sound appealing (nor was it in FO3/NV). I'd want to add things that make a difference to the gameplay.
Weapon/armor degradation isn't an issue that, when looking at it in isolation, makes much of a difference by existing or not, but it is one of those little streams that build up the river and since it has been put in it might as well be taken some advantage of. There are possibilities in the design and concept (especially now that we know how it doesn't really work for the better of the game) that a clever designer can make use of. It's a wasted potential to just lose it (just like the TES attributes) - not a big one, but nonetheless.
Cluttering things up with redundancies is one thing ("less is more") and going with that, they might as well discard the whole character system (that much of a redundant mess it is right now); creating meaningful gameplay by addition of new and molding of old of features is another.
Anyway, there's not much to argue about this; just the feeling that cutting down and removing potentially - and sometimes factually - useful features (which has been Bethesda's forte in their past 3 games) seems counterproductive and unimaginative to me.