This is also my biggest problem here.
I understand that the devs had a hard time figuring out what to do with loot and that there is a growing number of different item versions that they want to get rid off. Eternal realm looks like a giant garbage dump created by several wrong decisions from season to season. The issue exists and I agree that something has to be done about it.
Imo mythic items and the itemisation in general are still far from being in a state that is worth keeping. Therefore I have nothing against doing eternal realm players a favor. I will join the party if itemisation seems settled.
But what I fear with Diablo 4 burning everything down for this addon, is that the devs are eyeing the World of Warcraft way of releasing addons. That means more player level, item power and a reset every 1.5 years to keep things “fresh”.