Oh god, I can only imagine looking for a weapon amongst the battlefield just to find a bunch of randomly named weapons that give no hint to what they are. Or, as someone mentioned, a 1h sword named "Longsword" or something so when you pick it up you think you are getting a 2h, but you aren't.
This would be nice for the sole reason of making you feel more legendary, but would just make things more complicated. It would also render some items unsellable because of stupid names. In addition, I am not sure how much it would decrease performance to have to make the game read and rename the name of a 100 players' weapons. I believe the game would have to treat each named weapon as a unique and new weapon in order to stop every MW of that type being named the same thing. If that is the case it would hinder game performance quite a bit. Especially because every time a new player joins you'd have to load their item's name. Plus, the moderation and naming guidelines that would have to come with this would be too much work. What if someone has a weapon named "[Insert race here] Slayer"? Are we not to ban them for racism? Are we to reset their loom's name to get rid of it? Or would we simply have to do it the same way as name changes and force someone to go through and approve each weapon name?
The only way I could see this being implemented is if it was only visible on the c-rpg website. Perhaps being able to add a short name after the weapon type, so it'd show up as:
Masterwork Longsword "Voso's DESTRUCTURURERER"
Even then though, you'd have the problem with naming guidelines.
Would this be enough satisfy everyone's craving for a named item? Just curious.
They could also add another box on the marketplace UI under the details tab that says:
"Engraving: (Voso's DESTRUCTURURERER)"
That way when you are browsing the marketplace it still says Masterwork Longsword, and things are still easy to find.
EDIT: Rather than getting the option to name it after retiring, this would be a better feature if you had to pay gold to name it, and only looms were eligible. It would only be worth it to pay the fee to some people, and therefore not every weapon would be named. It would also likely stop people from impulsively naming their weapon something incredibly stupid. As someone mentioned engraving, just say it is the cost of the engraving. All in all, it'd be a poor purchase in my opinion as it would only be visible on the website and because it might lower resell-ability. But if you loved the item and wanted to personalize it, it'd be up to you.
It would also nice to be made that no matter what you name it, it begins with the name of the person who named it. (Like how it says Voso's in my example) This would allow you to trace back who's weapon you have, if you fancy, and allow only the original namer to be responsible for whatever name it has. Also, it'd stop people from trying to name items after people who are renown for using them to try and make more money. The only problem I see with this is clan tags, though maybe that would add an extra factor. If someone has an ooooollld weapon of yours, you might be able to tell its old by its clan tags.
They'd be like c-rpg baseball cards. "I'll trade you Goretooth's black armor from when he was in ATS for Rhaelys_of_Chaos' banded armor."