It's not meaningful raid content.. it's the top guild purposefully preventing the rest of the server from content. P99 is supposed to be a place to experience everquest as it was, by waking the sleeper you change a server permanently to remove content that only the top guild at the time can ever experience, it goes against the core principle of p99 in my view.
GMs shouldn't allow it.
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Idea: The sleeper should only be awoken as a GM event where after a period of time it would be reset.