The reason the Veteran Reward system got gutted was because it reached a point where the requirements to get the highest rewards at the time (FFVIII's Squall Leonhart's outfit from Dissidia, a highly sought-after outfit) was virtually impossible for new players just joining to attain the required rank to get, that only those who had been playing from launch were able to get it (due to the huge length of subscription time required, which especially was impossible to get if paying for subscription by credit card/debit card). So, SE greatly cut down the Veteran Reward ranks to four, and moved most of the gear and items received to the new Achievement Points system.

Accordingly, as Alestorm mentioned SE are not going to add anything new to the Veteran Rewards, as it will either go to the Mogstation/Online Store or Achievement Points. It just makes it fairer for new players.