Just make loomed items worse, instead of +5 armor +3 and so on Hm, back in the days lordly armors had +7 armor, newbies should be happy that looms were nerfed already
New players know nothing except that they are being owned. They don't care about the history of changes, or that you had to walk 5 miles in the snow uphill both ways to get your heirlooms, even if you are now giving them free limo rides. They won't care at all. The only thing you will do is piss on the players who spent the time to get some feeling of persistence in an otherwise battle, win/lose, rinse repeat system (for those not in Strategus). That doesn't hold players attention for long at all. They like earning shiny trinkets, and even if the shiny trinkets don't mean much; if you make them mean less than they did, people get mad.
Not to mention that even at Gen 19 (25 after gens lost to long ago patch), I only have my Archer gear where I want it. Now I'm working on my 1h shielder + thrower gear. That will take me another 9 generations for the weapons + another 6-9 generations for the armor that I will eventually wear with it. New player starting today will have a fully loomed set in whatever class they choose by time I have my 2nd set of loomed gear. Then I get to start on my 2 hander/polearm + tin can gear that will take me another 15-18 generations to fully loom out. Yes, I could market place/trade my archer gear in eventually to get a different class build, but I don't want to do that. I like the shit that I earned and often I have a non-standard build and equipment in those common classes anyhow. When I retire to a different class (or respec actually in 36 generations or so and I've only got 19 gens right now), I don't want to deal with the marketplace. I want to take my gear out of the armory in 5 seconds and put it on as my latest class.
It makes me feel like there is some point at least to the playing. Am I having fun? Yes, I am. But without a carrot leading my Id along, it will definitely grow bored and find some other game that offers a modicum of persistence for that warm fuzzy "feel good" glow to make Id and Ego happy.