this changes at the inferno level though, because here the rate of gold gathered vs needed to upgrade jumps significantly. You begin to grub at every blue, yellow drop for the upgrade that gives you a little bit more survivability.
I think they the system more of a grubbing for small coins all around the map to buy crack from the AH.
They reduced the frustration loop by removing the "oh this wasn't the rare I wanted" and change it to "I can sell everything for gold, I just need a little bit more". Since you can see continuous progression you don't feel frustrated (as much). I would think this is analogues to being told why a que is taking so long instead of waiting blindly in a que.