A system like the Vicious Saddle for achieving the old Elite Sets, Tabards and Enchants would be great.
The truth is the requirements for getting an “Elite Set” changed over the years. For instance, Legion required 2000+ rating for a Elite Set, but BfA only required 1800+.
That said, getting 1 redeemable Token for 50 Wins at 2400 rating per bracket, per season, would be a solution that doesn’t devalue the prestige of those rare items - as you probably need to get a higher rating than originally intended(*).
The number of wins and rating required could be changed (I honestly think 2400 is too high), as well as adding different token costs for each Elite Item (sets, tabards, enchants, cloaks etc.).
(*) According to Wowhead, only ~2% of accounts ever got more than 2200 rating in 2x2 (the more popular bracket).