It might just be me, but I really felt it added to the interest and excitement of new magic items not knowing exactly what they did from the get-go. I haven't got a big D&D background but I did see that Identify is still a spell in 5e; I was thinking it could be an option to right click an item and choose Identify for an Arcana check to reveal its secrets, or pay a fee at some traders like Ethel to discover their properties.