Yes the Exotic gear you get is competitive enough for the most content, however there are two more tiers: Ascended and Legendary, which are exponentially more difficult and expensive to get, and encourage exploration as well. There is more difficult content in the game that requires those as well.
Skimmer Mount (Guild Wars 2: Path of Fire) Jackal Mount (Guild Wars 2: Path of Fire) Griffon Mount (Guild Wars 2: Path of Fire) Roller Beetle Mount (Episode 3 of Living World Season 4) Warclaw. Full World Map for Guild Wars 2, GW2 Heart of Thorns, GW2 Path of Fire, GW2 End of Dragons and Living World Seasons, updated in 2023, Guild Wars 2 Atlas4i4bMMC.