Since the (what I am assuming) Anointed Altar option sets the Level Requirement of every item in the game to level 1, there needs to remain a reference to the item’s original required level.
Crafting an item gives no hint what its level requirement, and thus, property value range, was originally, and this may be a problem for players who have not memorized the level requirement of every item in the game.
Additionally, keeping in inventory items that are below level 70 may cause confusion when attempting to select that same item from inventory that is at level 70.