I think part of the reason missing isn't fun is because that 75% chance can mean missing three or four times in a row, and then when you do finally hit, it rolls 1-2HP damage. Er... yay.
But to your original point, that does sound like a much more interesting way of playing against goblins. It's similar to games I've modded previously where I've substantially decreased enemy HP to stop them being bullet-sponges and significantly increased weapon damage and chance-to-hit, making fights much more dynamic (and also way more dangerous for me as well as whoever I'm fighting). My main not-fun things are the combination of a complete miss, even with a high chance to hit, frequently low damage and long, drawn-out fights. But some of that irritation may be due generally not being a fan of chance-based games which is what D&D is about AFAIK, so I feel my objections may be a little... well, off-target, which seems to be very much my current thing. D:
