I think the less loot arguement has merit and It will prob be the case.
I don't see an argument though, just speculation. The OP jumps from "companions don't have an inventory," which isn't even true, to "fights will probably be just like ME2" and "loot is probably pretty much disappearing as well."
The supposition isn't even based on an accurate understanding of what we *do* know. I'm not saying they won't change or haven't changed the way loot is handled, but I am saying such speculation has to explain away facts in evidence (the screenshots of the actual inventory). You're saying the argument has merits, but I don't see an argument--just a guess.