From your OP I gathered that you already researched a little bit of discussions.
I am not sure what discussions you did read exactly but here is one of the hottest ones I would say
I already stated there my opinions.
Short answer from me for your argument of a toggleable feature:
As soon as there is such feature, that objectively makes the game faster/smoother the majority of people will choose that option anyway.
I would prefer people being forced into actually engaging with their loot.