I've always hated RNG for drops. It's just insanely unfair for some people who get a string of bad luck, especially for content this gated (about 2 weeks to build up 600 points). Here are some numbers:
If 100 people continually try for the drop, nonstopping grinding r40 leves (assuming 50% drop rate) until they get the drop:
50 will get the drop on their first kill (2 weeks)
25 will get the drop on their second kill (4 weeks)
13 will get the drop on their third kill (6 weeks)
6 will get the drop on their fourth kill (8 weeks)
3 will get the drop on their fifth kill (10 weeks)
2 will get the drop on their sixth kill (12 weeks)
1 will get the drop on their seventh kill (14 weeks)
So 3 people will have to wait 3 months+ (longer than the game has been live) to get their item, while the vast majority of people will have gotten their drop in 1 month. What did those 3 people do wrong? Nothing. The law of averages should even out their luck over many many drops (at the rate of attempts: years!) They work as hard as the guys getting it on their first attempt, but are severely punished by RNG, and since the content is gated, they can't even grind for it, they're just screwed.
Instead, (again assuming drop rate of 50%) they should up the required total faction points to 1200 and make the drop rate 100%. This will ensure that the exact same number of drops are given in the realm, keeping the value the same, but it will not ***** a small percentage of people over for no reason.
WoW has realized this, btw, for those of you who are saying "even the casual games do this!". (badges, for those of you wow players, and tokenizing tier gear).
Punishing a small population with RNG so that others' items are more valuable is deplorable. Rewards should be based on effort. Make it grindier, don't make it more random.