Index maintenance is typically a DBA role, and should NEVER be relegated to users.   Just doesn't sound like a good idea to me at all.   Determining which method of dealing...

Entirely curiosity on my part, but has anyone tried testing that code with the Phrase column being varchar instead of nvarchar ?   I don't have the time to do it...

Perhaps more importantly, what would you do with the information if you could actually get it?

Regex isn't necessary if all that needs doing is to replace every occurrence of curly braces.  It really is as simple as:
REPLACE(REPLACE(YourColumnName, '{', ''), '}', '')

That's just...

You may need a format file to allow BCP to properly deal with quoted strings, but I don't know BCP well enough to know for sure.   Look at Microsoft's documentation...

That 2nd view is the cause of this.   You must have multiple rows in the 2nd view that match on the JOIN condition of your LEFT JOIN for at least...