It's also a game that is built around players actually going out and doing the content for themselves to gear up. Not playing BazaarQuest or RotHandoutQuest. Old EQ also had tons of twink gearing going on where there were godly powerful low level toons with gear they'd never be able to acquire on their own. No Trade was all in an effort to curb those trends and ensure that the people who had good gear had actually played in the content that rewarded said gear.
I am guessing it will depend on the population status when it hits live as they have been adding the buckets for random loot to new expansions it should be easy enough to keep if the server is popular enough when it reaches live.
Might make a fun annual gamewide event for Bristlebane day/weekend. But personally, I prefer a world with consistent lore reflected in the item drops. Diablo/Borderlands style loot is lazy.
I don't know, it seems like it is a good idea especially for the newer TLP servers as it prevents people from locking down the sources of the good items by locking up the camp they come from.