Can we get one button press on looting instead of holding Y on every single mob? I get that it's a business that needs to make money, and pets help generate revenue.. but come on. There aren't any other options that require a single Y button press to spin the menu (like there are with horses for example). It's incredibly tedious, and this was my only major gripe coming from pc to console during this beta.

You wont. You will be able to get pets that loot for you. Up to 5 can be out at a time. Thats how everyone on PC loots. No one loots them self.