It may have been more elegant if they simply reduced the chance for items to drop dependent on the level of the highest person in the party (as well as the other players and the mob, so grouping with someone 5 levels higher doesn't arbitrarily reduce the droprate by a large amount).
As in Aion, someone 8 levels higher than the mob might only have a 70% of normal chance for items to drop, including just 70% of normal kinah drop. Someone 15 levels higher might have just a 25% chance of items to drop, to make up for the much faster hunting efficiency. Someone 30 levels higher might only have a 10% of normal chance for items to drop.
They need to make mats morphable to lower tier so higher level(aion gold) players can farm them with the same risk as at-level players. Also, of course, they need to probably take a look at the resource needed to morph, as it sounds like the mats needed to morph the dropped mats cost more than the value of the resulting item (which would, of course, be par for the course for Aion.
The huge increase in the actual and expected income at higher levels is kind of a strange design. On the soul healing poll, it was mentioned that max soul healing at lvl 50 is 2 million kinah?! It may be great for gathering, but also encourages twinking and aion gold leads to the inflation that makes equippable items often unaffordable to players who feel that gathering is not fun, which lead to the complaints about broker being ridiculously expensive and players not being able to pay for soul healing or traveling at all.
So this makes it hard to set the correct price for static vendor mats like the morphing things, since the resulting item could be worth 1000 or 5000 depending on inflation at higher levels. If we ever go back to the abyss and find out where to learn morphing recipes, that easily gives a profit even on simple things like Aether. The important thing is how much NCSoft cares about improving the game.