I kinda agree, faction and hnm drops are kind of disappointing stat-wise.
BUT, mid-level nm aren't easy at all, at 30-40, alas the level they are aimed. Obliusly if you zerg it with 5 50 they appear too easy. And since they aren't 100% drop, the quality of the items is hightly justified. Instead a gimp, i would rather see a stat upgrade on craftable items