You realize that they could have not put in any kind of exchange system for the two ornaments at all.
Instead they decided to let players who may still have some be able to do something with them. Which fits into what they have done in the past, even with the exchange rate really. The exchange can get you a leg up on the others, but likely not enough to replace doing the activity itself for the new items.
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...And if they didn't let the player exchange at all, that would have been an even more egregious decision. The point isn't that "it could've been worse", it's that it's a bad decision. They even changed the original WotM ornament slot to be AoT ornaments, so even if I get a better roll, I can't use my other perfected ornament on that gear piece.
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What do you expect them to do? They redone the raids for the AoT. Perfected ornaments don't drop anymore. They have moved to a different ornament set. I guess the idea is that if people wanted to use the ornaments on their gear, enough time has passed to get the amount of ornaments they needed to equip all their gear, but some would have gotten more than they needed to have their set complete. Will this always be the case? Of course not. The same as some people wanted to get an activity perhaps done for the last node in the book before that book expires ECT. They wanted that last armor peice in the year one VoG before the dark below hit, or whatever. Of course then they changed the material needed for upgrading raiding gear from ascendant material to radiant material. Those could not be traded one into the other either. The fact you can trade one for the other in this case is not bad.