the real problem with the RMAH is that by its nature, items had to be alot rarer. if loot drops were like D2, the RMAH would be filled with rare items and wouldnt fetch much cash. but his just came and bit Blizzard in the ass because faithful players were painstakingly beating inferno over and over again, but didnt get any amazing legendaries or other great loot. Those faithful players started leaving, so blizzard had to make inferno easier just so that beating inferno multiple times wasnt considered too much risk for crap reward.
If RMAH didnt exist, looting would be back to normal D2 days, and people would be more satisfied with what they were finding. having more fun. I lost hope for D3, I definitely wont be getting back into that again.
Torchlight 2 is coming in a few days. MY BODY IS READY!