Without those feats damage is still competitive though, just not overwhelmingly so. And it's not like those feats give you interesting capabilities in combat, it is a brainless choice to always use them (unless you are fighting one of the few monsters with an obviously high AC).
I would much rather fix those feats so that later feats wouldn't compete with them. Imagine if they come out with some feats that give players really interesting combat options. Feats that aren't passive, aren't spam able, but actually require thought and decision making in combat. That would be awesome, no? The problem is, most people won't end up taking those feats becaus they don't directly increase damage. In fact, they can't directly increase damage or 5e damage will spiral (further) out of control. So what will end up happening is players will still choose GWM first, and then maybe some day choose the other feat... Maybe.
We can already see examples of this with things like Sentinel, Martial Adept, and the like. Those feats are more interesting than the pure damage increasers that are GWM and SS, but those are rarely a first choice feat for weapon users.
I completely agree with you that 5e combat is lacking, and that feats in general are meh. But I'd personally rather have no feat contribute to DPR and have lots of feats that grant new and interesting capabilities, than keep boring broken feats that only increase DPR.