IME the xp-for-loot system works really well for a very particular type of game, a type largely ignored by mainstream TTRPG media. One much pulpier and closer to the classic sword-and-sorcery source material like that written by Fritz Lieber. I use it in my games and really like it - it was a huge shift in the feel of my games, and I also think it leads to a game that fits more neatly with my own preferences for fantasy games (I love the aforementioned sword and sorcery materials.)
The author here seems to be someone still interested in the sort of narrative game evangelized by Wizards Of The Coast and popular D&D media like Critical role, which XP for gold would be a bit of an odd match for.
Additionally, one of the problems they encountered (players looting too much and leveling too fast) was of their own making, when they reduced the leveling thresholds by a factor of 10. Players won't worry about looting mundane objects worth 10gp if they know they need to get 6000 to level up - that effort is better spent on finding bigger hauls of treasure.
The author here seems to be someone still interested in the sort of narrative game evangelized by Wizards Of The Coast and popular D&D media like Critical role, which XP for gold would be a bit of an odd match for.
Additionally, one of the problems they encountered (players looting too much and leveling too fast) was of their own making, when they reduced the leveling thresholds by a factor of 10. Players won't worry about looting mundane objects worth 10gp if they know they need to get 6000 to level up - that effort is better spent on finding bigger hauls of treasure.