They relate to the days when group loot was an important thing. The group leader could set the basis on which group loot was awarded. Need before greed - people who stated that they needed the item got priority, then the greed people Master looter - group leader got everything (Mr or Mrs Popular) Round robin - loot allocated on a round robin basis And the thresholds related to the colour/rarity of item before the chosen method kicked in. There were times when actual gear drops were allocated through group loot, so it was a big thing. Imagine a healer-only piece of gear you, a healer, need, dropping into group loot, and the tank indicates they need it too and gets it. Toxic af.
Small clarification, the "master looter" setting allowed the group leader to divvy out who got the gear. If you had a good group leader, likely in league settings or with trusted friends, it was the best way to make sure people got what they needed. No tanks getting controller gear, etc. PUG groups could be even more of a nightmare, though. Doing a run without getting the gear you needed because someone "oopsied" a need roll...it was the worst. So much rage. Kids these days, with their individual loot choices...
Ah the days when a pug group leader turned on master looter before last boss of Black Dawn... Oh and of course, I called hand blasters and if anyone needs on it is a loot ninja of Prime Battleground. I'm so glad this is gone.