We are hating on color coded items now? When even the tabletop RPG has that distinction? A reminder for everyone from the DMG :
[Linked Image from i.postimg.cc]
MMOs and modern RPGs haven't invented it, it is just a tool that have been successfully used since the dawn of the genre. Sure it isn't perfect but its benefits vastly overweight the roughness of the estimation.
And also, some items do have a lore attached to it, be it written in the description or told by the environment. Did we really play the same game?