Itemization is terrible, but having a random play environment would add so much to this game for me. I love this game, warts and all, but would really like this feature.
The way I see it is a progressively hard dungeon that allows you to delve deeper into the levels and the creatures become increasingly difficult, not just HP wise as MP basically does, but some real damage scaling. Obviously some form of increasing returns, not so much in items but in commodities, like higher level gems begin dropping as you make it deeper, gold stacks climb, items should fall based on you MF as they due in regular adventuring. Provides a reward but nothing gamebreaking. The you would be able to have depth challenges with prizes and community events based on the dungeon options.
Could you imaging crushing through the content, only to find a another player beat you there. Be kind like a ladder, can set time limits, set types of enemies faced, and let it happen,
Oh weel, just thinking out loud