I personally would differentiate between very very rare unique items and rare/exlated items for this discussion.
Those super rare random-everywhere drops such as Ravenous Void or Orian’s Eye can have several “stages of even btter”, when they roll LP, it is unlikely, but it can happen.
Then you have those “perfect” rare/exalted items, which are to some extend are refineable with some crafting methods.
For both of these points I think its important to have “unexpected results”, that positively surprise you. But to have these, the “ceiling” needs to be super high, so high that its pratically impossible to even get them reliably, but they still need to exist, so that you maybe some day get this astonishing drop.
I wanna visuallize this:
You could probably split up the bar even more into more segments with different expectations.
But my issue is, that a lot of people seems to expect to get these items that are at the end of the orange category or even in the red category, but IMO these only exist, so that there is the chance for a positively surprising oustanding drop.
A player that mostly finds items in the green category, will occasionally find a item from the orange category, if he is lucky.
A player that plays a lot and will find items from the orange category often, will sometimes find items from th red category.
Even a green player might find that one item from the red category. That is very unexpected and will give that player a exciting moment.
Obviously there will always be items, that are still bad, even if they have multiple exalted affixes and especially when the player play in a solo or a non-trade-enabled envrionment a lot of the “rare” drops are still worthless.
So having a very high ceiling only serves the purpose of having these occasional unexpected random drops, that feel exciting.
.