I don’t think you can get rid of it entirely; it’d simply be jettisoning too much well known history and useful story hooks from the game. Fantasy of all sorts is rife with magic maguffins and players expect them to be a part of the game. I also don’t think people are especially clamoring for their removal.Another thought: how should a theoretical 6E treat loot and treasure rewards? What place do piles of silver and/or magic items have in D&D going forward. Should the game be aiming for Diablo style loot drops? Or should it be minimized or excised entirely?
But they do pose a bit of a problem. If players are getting a bunch of their best powers from class abilities, adding in magic items feels either too much or a bit of a letdown in that “Oh, I forgot my sword had this ability” kind of way. And looking backwards to earlier editions, having magic items be the main driver for abilities had a nice knock-on effect of giving players a reason for dungeon delving, which I personally like.
I admit I don’t know how to solve that. I actually would prefer that class abilities were scaled back somewhat and magic items take more of the center stage again, but that’s a personal preference.
Edit: I will say that actual non-magical loot could probably be done away with. The game’s never been great at figuring out what to spend money on.
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