Modifier names that do not modify the basic items appeared soon after release (May?), Cracked, ragged, torn, splintered, etc. are used with no apparent interest in what they mean. Who could use a cracked bow with splintered arrows? You cannot get any martial effect out of such goods!
Quality Control (if it exists in TW) should be scheduling a big sit-down with the item designers and also whoever assigns trade values to items.