@mysticdragon297 said:
so i guess the devs want the kraken to be a force of nature rather than a world boss that offers loot.
The devs themselves have stated during their dev talks that there would be loot associated with defeating the kraken, similar to how the Fort functions. The intent was people would have to team up to kill it (or beat it back), and then decide whether or not to split the loot fairly or kill each other and the last crew standing gets it. They never implemented the loot, though and made it easy enough to defeat with just one crew.
But yes, the Kraken basically needs a complete overhaul on how it's implemented. I personally think they should have left it out of the game (especially since they say themselves it's unfinished) for a bigger content update much further down the road. The Kraken is supposed to be the end all mythical monster from pirate folk lore. We shouldn't be able to just bump into it willy nilly in the first few months of release, let alone be able to walk away more or less unscathed every single time we encounter it.
All that said, Sandra at Daggertooth Outpost says something along the lines of "I got a score to settle with one of them krakens" when asked about the boat she's making. This could imply that there are actually multiple krakens that people contend with frequently, which would explain why the one we all fight is so weak. We're actually all fighting different, small krakens. Perhaps in Sea of Thieves "Kraken" is just the colloquial term for "Sea Monster" and we'll eventually get a raid boss style encounter with the legitimate Kraken.
I'm not saying any of that to justify the weak kraken, it's just some speculation (which is really all we have when trying to determine what Rare is doing with the game).