I've tinkered with various takes on global loot for a few years now and I really think that some kind of permanent gear removal or deprecation mechanism is necessary.
Attuneable can be helpful but depending on drop rates it might not be enough.
My first global loot iteration gave every mob a chance to drop something, and even at reasonable probabilities it doesn't take long for the world to become saturated with gear. A new player can be charitably geared to the teeth within their first ten minutes of play, and when you're level 3 and unable to find an upgrade until the high-end, things get boring quickly. Just as demonstar and dungeonmastr have said.
I put no-drop flags back in on my server and moved a smaller bracket of high tier items with attuneable flags to no-drop as well. It's a bummer when something really nice rots but without that precious rarity everything is cheap and easy. I left everything that was originally without restriction as it was since I think it's nice to have a rare set of decent twinking items, it just has to be controlled. Even with this setup the server still has quite a bit of gear bloat.
On a semi-related note, I do like to remove required levels for everything but very specific quest items. I will use a recommended level in a limited capacity but I think no-drop is an all around better solution for rampant twinking.
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