To start with, I really don't mind cosmetic items in games. Especially in F2P games as in those they are the way the developers monetize the game. And yes, I realize that hiring developers is expensive, that is why you need to create the game's business model so it is profitable.
My problem with lootboxes isn't about the items they provide. It's about the fact that they are essentially slot machines, but they are also available to minors. We ban minors from that kind of gambling for a reason - the fact that their brains aren't just ready for that kind of a dopamine hit and counting on them being responsible.
And when it comes to P2W aspects of games, I think the vast majority of players can agree that those are just purely bad and it is very hard to argue otherwise.
But eitherway, thanks for a great comment :)