...what is "big deal" for you?
Since that sword you litteraly keep repeating about, is aquired during single dialogue choice and cca 3 seconds clip.
THAT IS NOT ANY HARD WORK!!!
No matter how often you will repeat it, it gives you the same amount of work as picking any item from box ... even less actualy, if that box was locked.

It's not about hard work or sweat. It's about presentation.
When a story presents a magic item in a certain way, it comes with a promise. A promise that the item, the weapon in this case, is special.
A sword that's +1 that you buy from a vendor is nice. It's swell.
One that levitates out of a rock after a blood ritual and has an actual name... is more than swell. It's the story's way of promising you that the item is unique.
This sword is stuck in a stone like the legendary Excalibur. It has a personal name.
Again, it's all about presentation. It's the storyteller's way of letting you know that you're looking at something important. Seriously, just understanding that is part of what it means to understand storytelling in general.
*
My theory:
1. Either the generic +1 sword is a stand-in for what Phalar Aluve will be in a later update, or...
2. There's something special about Phalar Aluve that has to be unlocked somewhere in game play. (Kind of like the way the RIng of Elemental Command used to present itself as something lesser than what it actually was, until it was triggered by some kind of special event.)