I think true legendary items should be extremely rare and unique. Not just gear with the highest numbers. Having a whole ability or power set tied to them. They should come from a variety of place unexpected. They should be gameplay altering and powerful.
I remember clearly how epic it was that a character in a book that might be a show soon to not spoil created HIS legendary weapon in rare event with a few other characters. Having crafters having very chance to bang out an legendary in extremely rare chances would be awesome.
I think legendary items should be something you can find in the most unlikely places. You get a quest to kill some rats in the attic and he gives you great grandfathers sword also in the attic. 1 in a lottery number chance this a legendary sword. Some obviously should come from legendary foes with legendary gear.
There should also be cursed items that give great power but very drastic draw backs. You find a staff that seems powerful but something is off. It begins to display power the more you use it. Suddenly you after slaying a foe it becomes unremoveable and changes your appearance to a liche. You become killable to PC and NPC KOS. You are given a mysterious letter to get s cure but do you want to lose your sudden new power?
Legendary items of lore that only activate under certain circumstances and return to their origin. Like say for the sword and the stone that randomly successfully pulled but returns after 3 months.
There should also be legendary items for PvP. Like think infinity stones but you become killable and the stones are lootable. The more you collect the stronger you get but also the bigger target you are. Think it would create some fun chaos.
I think it's dreadfully boring to have +5 item being considered legendary in games now a days.

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― CD PROJEKT RED
"You have kept me at your beck and call for fifteen years. I shall never again do what you demand of me. By every rule of single combat, from this moment your life belongs to me. Is that not correct? Then I shall simply declare you dead. In all of your dealings with me, you'll do me the courtesy to conduct yourself as a dead man. I have submitted to your notions of honor long enough. You will now submit to mine."
Once upon a time some games (including WoW ironically) flirted with the more sensible idea of getting better by doing although it has usually been implemented as a throw-away kind of thing without a lot of thought that could be easily exploited by doing the something against no-risk low level mobs. Nevertheless, that's where the emphasis should be.
By all means have some better versions of gear to a degree but don;t make it the character defining end all and be all it has become.
Easy to make it all about chasing loot though. Not a hell of a lot of thought or creativity to make it that way. Making a thing even more rare and even more character defining is just more of the same loot chasing shit.
― CD PROJEKT RED
Heck there is a whole stigma about red baseball hats now - talk about ruining red baseball caps for everyone.
I do not like the "everyone gets a trophy" mentality.
The thing it reminds me most of is that other cliched logical fallacy loaded question: "How often do you beat your wife?"
― CD PROJEKT RED
Oh me either- I personally dislike all baseball hats, but that's just me
"You have kept me at your beck and call for fifteen years. I shall never again do what you demand of me. By every rule of single combat, from this moment your life belongs to me. Is that not correct? Then I shall simply declare you dead. In all of your dealings with me, you'll do me the courtesy to conduct yourself as a dead man. I have submitted to your notions of honor long enough. You will now submit to mine."
It was awesome when I saw a guy with it in Alterac Valley. Everyone would just swarmed him because they all wanted to kill the guy with Sulfuras lol. What an honor to be one-shotted by that guy.
Mend and Defend
The godz of RNG are never kind to me, so I'd prefer to be able to work for something.
"See normal people, I'm not one of them" | G-Easy & Big Sean
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing POE at the moment.
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
This isn't a signature, you just think it is.
So only the first one to kill them got anything. Very competitive, very cut throat, and, when you saw someone in the "Raid Gear" it meant something, they were literally, the best of the best.
EQ1, EQ2, SWG, SWTOR, GW, GW2 CoH, CoV, FFXI, WoW, CO, War,TSW and a slew of free trials and beta tests
Mid level and higher unlimited can just be repaired but cost a ton up front, usually, at least $100 to $8,000.
But they will save you money in the long run.
One item a friend uses rents for $300 a month.
You can see my sci-fi/WW2 book recommendations.
Extrmemly rare and random stuff isn't really something you can base your gameplay around. I doubt I would get one myself. I never win lol.
"See normal people, I'm not one of them" | G-Easy & Big Sean
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing POE at the moment.
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
Only thru the eyes of the tender little snowflakes