I don't think there is a need for rares anyways, just create items that are very rare to get as a drop (i guess they already got 3rd age)
That still allows for some 'prestige' while not making something discontinued.
honestly they should have just put a shop in the game like at the wise old man with rares at a set (and very high) price, instead of having some more common then others through the past pidfest events