Waking the Sleeper is the exact same thing as any other time limited content such as Manastone. The only difference is the timer is player controlled, rather than dev controlled.
You could easily say keeping the Sleeper sleeping is blocking all players who want to do the Essence Lens quest. There are only a few good Warder items, and for some classes the Essence Lens quest is better than any Warder loot. So you can't really use the "blocking content" argument, since content is blocked in both situations.
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