You spend 90 minutes fighting through multi levels to get to the big boss.After a protracted fight you win and get as a reward an item that can only be used by another school !! Do I want to do that again on the odd chance I will get something I might be able to use ? (takes deep breath).
Having random drops isn't anything new to MMORPGs. While it can be frustrating at times because of the inability to trade items between characters (on different accounts), most of the top quality items in other games are flagged as no trade anyway.