I think the confusion here is regarding what is meant by resources. I don't think this means time/money available to design and model new game assets. It means system resources (RAM specifically) and how many separate models the entry level machine can cope with rendering under "normal" conditions.
Those on PS3 or an older PC will be familiar with all the player characters loading gradually as you move to new areas. This is because the data (assets) for each seperate character and each piece of gear need to be loaded from the hard drive to the RAM (Random Access Memory). Something can only be rendered on the screen if it's on the RAM first, and the RAM is highly limited (particularly on PS3). I think square-enix learned to stop saying "PS3 Limitations" since it evoked a negative reaction from many who felt the PS3 version should be abandoned since PS4 is here.
Imagine if every piece of gear looks unique. Also, with Glamour system many players will be wearing different looking gear in the same area (say Mor Dohna or any main city, or a busy fate). Each piece of gear has a certain file size, and there's only so much space on each user's RAM. Not only does it take time to load each piece from the HDD to the RAM so it can be rendered on the screen, it's likely that the RAM will quickly become full, and only a limited number of players will be able to appear at a particular moment. Think about Odin fate and how it taxes the machine. This kind of rendering lag could happen even more, and in less populated area's if there was even more unique gear in the game.
Bear in mind also that the developers have to consider the long run. If they make have your system running to it's full potential now, how will it cope in 5 - 10 patches when more gear is added? That said, eventually (for this reason) I'm sure PS3 / older systems will be phased out and they can work to higher system specs, but it's not time for that yet because I can't afford a PS4 :P
Hope this explains the situation for those who were a little confused.
EDIT: One further note - you may be thinking, "how come older crappy MMO's have much greater variety in gear then?" The answer is that the graphics are less detailed so the file size of each asset is much smaller. More can be packed on the RAM at once and it's quicker to load.


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