It's not hard to make fun and interesting items that don't obliterate basic system math and pave the way for others to do just as bad or worse.
Magic carpets can let you fly and see wondrous things, and change how the game plays. Just don't let them also give you Dex 30, which gives you +10 Init, attack, AC, etc.![]()
As far as I'm concerned, a magic carpet is a much bigger deal than any belt of giant strength. I'm the DM. No matter how big the PCs get, I've always got something bigger, and attack bonus hits a wall anyhow; there's almost no functional difference between +15 to hit and +150. But having the entire party able to fly at will changes the very nature of the game.
The more I think about it, the less I'm worried about this. I've played campaigns where the fighter was guaranteed to hit on anything but a natural 1. It wasn't that big a deal. The problems come up when you've got combatants who have to roll a natural 20 to hit; keeping defenses under control is much more important than controlling attack bonuses. (So if we start seeing items that grant super-high Dexterity, that's an issue.)
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