I can understand a few exceptions, but I really don’t like the idea of Blizzard taking content away. There are a lot of reasons why people might miss content, most of those reasons aren’t fun, and Blizzard telling those people they can’t have items because life pulled them away from the game is more an insult than anything else.
I don’t know, maybe I’m being a bit dramatic, but I don’t see it as a good thing. Just let people earn what they want to earn. And for those of us who get pulled away from the game for extended periods of time, let it be there when we come back.