Well, this thread has gotten a lot more unpleasant in the time I've been away.
I find it annoying how people who NEVER finished a world conquest keep putting words into the mouths of people who actually do it routinely.
So, I'm part of the demographic of people who've done one WC (just to prove to myself I could) and haven't done more because I find it so tedious. I'm sure I can't be the only one. I've no issue with other people doing it, or with other people using strategies such as stateless nationalism to do it - I just don't use them myself.
The 'problem', such as I experience it, is that campaigns have nowhere else that's interesting to go, other than blobbing, after a certain point (usually when you've thoroughly defeated the other big nations around you) - so if you don't like blobbing, your campaigns will tend to peter out. In my case, unless I had a particularly slow and rocky start, this usually happens in the late 1600s.
I've no interest in making blobbing harder, and I've no quarrel with people who like it. So rather than advocating for blobbing to be made more difficult or more tedious or more diminishing-returns, what I want is more interesting non-blobbing gameplay of some sort or another past 1700. In my case, what I like is spectacular, reasonably even wars on multiple fronts, so what I ask for is Napoleon-style coalitions with huge risks and huge rewards. But I'm sure there are other good possibilities.