It's a known fact that +%dmg gear is better for dealing damage then any of the other gimmick effects available now.
why doesn't the item level on the +%dmg gear reflect this fact, because at this point it is a fact.
for a dps class +%dmg gear is always going to be better for doing their role, which is to dps, and even for tanks it helps them to hold aggro.
It makes no sense that some of the most useless gear in the game has the highest Item Level.
who does that?!
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It never will reflect effectiveness and it never did. When you treat it that way, you lose.
e.g. You can overload huge amount of critical strike (say 100K) and have a big number of item level. Is this character good for the current mod?
As many have said if you fixate only on a gear's item level then your lose each time.
We pick gear for what we need in term of stats and of course its bonus. We do not pick it for its item level and if you do then you really are looking at it the wrong way.
As for what was asked in the OP the reason its this way is to try and fade out old gear.
After all they would prefer us to use level 80 gear rather then level 70 gear.
They most likely wont up its item level or anything but may add new gear with around about same bonus as old gear for higher item level and stats.
Either way no one should fixate on a gears item level at all.
It's a decent indicator of how INeffective you will be though. I think most would agree that there's no point in allowing someone with 17k IL to enter LoMM.
Its an odd game.
It feels like getting hoodwinked time and time again with these new items... they just aren't that good but have a magically high item level which doesn't compute or convert into proper DPS.