Re-rolling properties on items is one of the three major things that keep people playing, the other two being grinding for veteran and cosmetic items and challenge/fun just playing the game.
Grinding reds and hats is frustrating, to say the least, even after the buffed drop chances. And yes, challenge/fun is a factor for me aswell, but its way less of an incentive to play than the other two.
I can tell from my personal experience that the severe lack of green dust, especially now after the 1.0.5 changes has put my will to play the game to a halt. There are alot of things I want to experiment with, using power vs x, crit power etc to see if I can reach certain HP thresholds, and I really enjoy doing that. But I cant, since there is no green dust to do it. My lowest level character is 20, and I refuse to grind recruit as that is causing even more burnout.
So please fatshark, if it isnt already, make green dust conversion and possibly crafting system/drop adjustments the top priority, or you will continue to hemmorhage players at an alarming rate.