I think you nailed it though there are a few reasons I miss this:
It breaks a fairly 1 dimensional type of character progression
I like having "tools" in a game, especially when they compliment your class rather than are just part of it. For example, my rogue had a grinding set in vanilla that consisted of dual crusader, heroism trinket and either 8/8 bloodfang or 2/8 bonescythe. This definitely enabled things that were not usually possible like soloing a fair chunk of BRD, for example. The warrior equivalent would be diamond flask.
Related to the above, by having these things around they "realise" items in the game. Like a rogue brewing poisons it makes it distinct from say, mark of the wild. Now it is just a buff, like every other buff you have ever had. An even worse offense is what they have done with weapons. Normalised speed and now every single attack in the game is bloodthirst which ignores your weapon completely, thus vaporising the idea that you actually have weapons at all.
It is a pretty massive shift in design philosophy whereby pure convenience overrides any sense of actually being in a world where objects have meaning.