The thing is, it didn't need to be removed and shouldn't have been removed. It should have been fixed. Removing it entirely was the wrong direction to go in. Weapons and armor should degrade with use just not like before.
First, we all need to admit we all are wasting our breath: the devs have demonstrated they just don't care; they are going to do what they want.
Secondly, there's bigger things that need to be fixed. like the glaring lack of innovation, spellmaking, dynamic economy. there's other places that lack depth that would benefit more from less investment.
Thirdly, like most systems in TES lately it needed fixing, not cutting:
A bit of history: Repairing was an important part of the old games (arena, daggerfall). There wasn't always a skill because being skilled in blacksmithing would be its own profession (so you would be a blacksmith
instead of an adventurer). You had to leave your weapon with a smith for several days while he repaired it at a high cost. That provided opportunity for game changing decisions -- what to invest in maintaining, when to repair, and staying out of trouble while your best stuff was in the shop.
when they switched to MW's system, it ruined alot of that because you could repair anywhere for very cheap. (and were strongly encouraged to do so because armorer was one of the few ways of getting endurance -- another broken system that was cut instead of fixed.) What was an important money sink became a gimmicky tacked on skill.
OB system was no improvement -- just simpler, easier, and cheaper. (and eventually essentially cut itself via perks)
Cutting was about the only step they could take to continue the trend, so no surprise.
On the fix: I disagree that armor degraded too quickly; IMO it went way too slow. If your taking damage, then your either getting hit where there is no coverage, or your armor is destroyed (in that specific location) not because the max damage reduction is capped at 80%. To accomplish that you would either have overly long fights, or your armor would give out pretty quickly. ofc, any system modelling that would require a fairly advanced locational damage combat system and a rebalance of HP. I would say that making it worth including would require a lot of rethought on the whole combat model and not "here's a skill / feature we want to include, let's tack it on / force it to fit."