To be honest I kind of hope that the items they give away are unique furnishing sets or town costume armor you can get in pieces per tier. That way you don't have to worry about people being pissed about the stats on armor/having a 1% chance to get a good peice of armor/getting spells that become increasingly less valuable with time given to you randomly. If the random items were actually *fun* it would be more of an enjoyable system instead of one valuable item and the rest being crafting/consumable crap.

For example having things like special costume armor that you can earn 1 piece from each slot (hands, legs, ect) per tier - I remember somebody a long time ago suggested "Major Npc costume armor" so maybe unisex versions of characters like Aldo and Prishe and maybe 2-3 other characters' outfits, or special furnishing sets. That way you don't have the 95% crap, 5% chance to get the good item while also consuming your daily log in points. They could change them every so often to add a bit of collectability to them as well.

Is it silly and pointless and a big inventory space sink? Yes assuming you keep all the sets, but I would rather collect something fun and cool with this rather than have it turn into "Damn I just used a week's worth of points and got an elixer... again" Creating rarity through low earning rates and frustrating repetition is the last thing we need more of.