I have around 1700 hours in the game, much of this is singleplayer, and much of it is online play before any loot system was introduced. If I had to make an estimate, I've played less than 200 hours with the loot system ingame, and in this relatively small amount of time, I've spent over 15k loot on various cosmetic items and have never felt the system is not 'engaging' or unwilling to compensate players who are a high level already seeing as you were given a loot bonus based on your level when the system was introduced.