MarkB
Legend
I never played 4E...I tried it for about two weeks, but I couldn't get past the healing mechanics. So there are a lot of things about that edition that I am fairly ignorant of. But I gotta tell ya--this sounds HORRIBLE.
The players get to tell the DM what treasure they find?! I'm sure there are checks and balances in place to prevent abuse...but I can't help but imagine it going something like this:
DM: You enter the ancient crypt, and there upon the altar of Odin, you find the legendary Spear of Power! Your quest is finally at an end!
PLAYER: Sword.
DM: Huh?
PLAYER: Sword of Power. Remember, I told you I wanted a sword for my character...that was like, ages ago.
DM: But it's an altar of Odin. Odin's weapon is a spear.
PLAYER: Then change it to Thor, then.
DM: What?!
PLAYER: We are in Thor's temple, and I walk up to Thor's altar to claim Thor's Sword of Power. What's the big deal?
DM: Thor's weapon is a hammer!
PLAYER: Then go with Freya or Loki or something. Surely there is at least one swordy Norse god you can use. What are my sword's stats?
DM: *headdesk*
If this "expectation" still exists in D&D Next, then I'm gonna have to pass.
Your example is a little extreme, given that the actual suggestion is simply for a wish-list of items that the DM may, optionally, work naturally into his adventure.
That said, I'd take even that extreme example over the alternative.
DM: You enter the ancient crypt, and there upon the altar of Odin, you find the legendary Spear of Power! Your quest is finally at an end!
Player: Spear, huh? Umm, hands up who's good with spears? ...No? Ah well, put a cork on it and stick it in the bag of holding - we'll offload it with the rest of the junk back in town.