It would be unfair to change the ratio based on how much gold people have.
I don't even want people who are nearly broke of have very little gold to get away with getting free loot because it would be exploited then.
It needs to do the same thing to everyone or self it won't be fair. Someone how is rich before this change will still be rich after it.
So with your idea, the (likely) skilled players, who (likely) have heirlooms and heaps of gold, will now stomp the suddenly poor(er) new and average players, who are desperately trying to catch up.
No thanks. Right now, with most folks wearing medium or better armour and selling loom points for cash, skill is what makes players good.
aside from full plate and a great maul