If I can hide vanity costume by right clicking on a name and choice that option in a menu, then I'm all for total freedom, but freedom for all, to show or to do not see.
I left TSW, partly because of ridiculous costumes everywhere (on a RP server), that's my choice, it can seems ridiculous to you as much as your silly costumes can look ridiculous to me.
What's cool is to have the choice, when you're free of yours and I'm free of mine.
But for those who showing off is at the level of a psychopathology, that hide option will be the ruin of all their efforts to dictate their right way of having fun and the unbearable uncertainty of getting noticed.