Currently you can obtain more red items than there are possible property/trait combinations in the game. I don’t think anyone needs more than 10 of any red item.
I personally have over 16 of each red necklace/trinket/charm and after patch 1.2 it takes me a week to open enough legend boxes for a red and I am sick of revealing duplicate items.
Perhaps you’re afraid people might quit playing if you fixed the loot system but I would argue people would be more likely to continue playing.
This is a major issue and it needs to addressed. Ignoring this issue(and others) and not communicating what you are working on is a detriment to everyone involved with the game.