Loot lockouts should be based on Job

[DoctorPepper]

This doesn't in any way interfere with the armory system.

I'm sorry but I have to disagree with this. If I can make an alternate character and have an advantage over somebody who is trying to play an alternate job on their single character (ex. obtaining additional rewards on your alternate character while the person playing an alternate job on their single character gets locked out/capped) then that definitely interferes with the armory system. To me the entire point of the armory system is that I'm not supposed to have any good reason to create alts aside from vanity/rp. If you really think there is no advantage to playing an alt character rather than playing an alt job on a single character then you need to take your blindfold off.