In the latest Balance of Power episode, Amazon Game Studios explained that they are aware of the issues regarding PvP loot in New World.
In case you are not familiar with the issue, players keep getting terrible items from Outpost Rush caches while Arena caches are even worse and capped to just two per day.
PvP track is supposed to fix this but other than named items that can be improved at a steep price and artefacts, there isn't much to look forward to. Some of this will change in the future.
According to AGS, they are aware that mutated Expeditions yield much more useful gear than PvP caches do and this needs adjusting.
Considering that a single run in an M2 expedition can yield multiple 700 GS Legendaries while I'm yet to get something useful after 63 PvP tracks, it should be easy to figure out why there is a problem.
While the devs promised a fix, they didn't specifically note when it will come - only that there will be some changes regarding the caches.
Other than that, the studio seems to be happy with the way gearing works now, especially with artefacts which provide distinct build opportunities once they are looted.
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