I think the problem various players are having and why this is being debated is because BGS games are supposed to be (supposedly, according to their marketing and various players' claims) hybrid action-RPGs.
If we take this seriously, this means that it is not up to the devs to attempt to "balance" the game mechanic of degradation around some type of specific play style or viewpoint. In an RPG, you do not simply "teleport to the nearest repair vendor" to fix something, nor do you "switch weapons for fun not because I had to". In an RPG, you play according to your characters behavior rather than gaming the game. This is necessary because it is always possible to game any system, anologous to how it is always possible to break into any "secure" system. In an RPG, players are supposed to understand that they must place their own restrictions on their play for any specific character and base those restrictions on the character's philosophy, behavior, traits, viewpoints, etc.
For example, consider "The Replicated Man" quest in FO3. Players can gain both of the primary rewards by doing a certain action and then doing a second specific action. However, characters who place a high moral standard on NOT performing the second act would never do such a thing even though it is quite easily done in the game itself. Doing the first act and then the second violates roleplaying for such characters, or at least most such characters (i.e., players could play a character that argues for justifying the second act that such characters would not normally do and do not do in other interactions in the game, but this is pretty contrived just to gain both rewards).
Does all of this mean we should have degradation within FO4 as we currently understand its system? Probably not, which is somewhat unfortunate from a roleplaying perspective. However, as with everything else in game design, it's a trade-off with having full customization of housing, weapons, and (hopefully) armor (not power armor as many of us don't care about that and never use it). The full customization includes the ability to create small settlements with trade routes, so (hopefully, again) this element might fix (or help fix) the extremely messed up economics from prior games as well as add more roleplaying of non-violent methods of characters bankrolling themselves for their outings.
In the end, it seems that degradation is out, but the trade-off may be worth it (and if it is out, obviously Todd and his team decided the benefits of customization outweighed the degradation system, including the added roleplaying aspects that customization allows).