Loot is the very thing that makes or breaks a boss, if you don't suggest loot with your boss suggestion that doesn't make it all that convincing. That aside, in terms of boss mechanics the bossfight is pretty solid, it shouldn't be all that easy to solo for someone that doesn't know the mechanics. The thing is, would this fight be fun or annoying? Most of the mechanics seem very frustrating to go against, there isn't too much counterplay to them. When you can't do anything about the boss using a certain type of attack the fight becomes more annoying, instead of fun.
It is possible to make a boss like this, however I have to disagree with your suggestion. It failed to convince me we need this ingame.