A little of both, really. In WoW, they eventually gave you an easy chart of what hit % you needed for what type of enemy, so that info was easily available on the tooltip for the stat. But even in games like this one where the exact value needed isn't known, players eventually determine what the ideal number is, give or take a point or two. So it amounts to the same situation - people end up balancing this one stat around a certain number for current content.
And while players open up other gearing options when at sufficient accuracy, this is true, it doesn't change the fact that getting the exact accuracy value needed for content is not just difficult, but actually rarely possible due to itemization. In other words, it's exceptionally rare that you can find a set of current-tier gear that will put you at exactly the accuracy you need - no more and no less. Plus, with various levels (4-mans, raids, etc.; if that's the case for FFXIV) and tiers (Alex, Ark, etc.) of content needing differing values of hit, it makes this stat even worse to balance. No matter what, you will always have too much or too little accuracy for most content, and almost always have too much or too little accuracy without gimping your gear for all content.
Accuracy is typically the single most powerful offensive stat, but is worthless if you have above the exact needed amount to achieve a 100% hit chance. If you have too much accuracy, those extra points you have in accuracy are worthless and would be better off put into other stats. If you have too little accuracy, those points you lack would be best off being taken from other stats and put into accuracy. In either case, which is nearly all the time, you're gimping yourself by having either too much or too little accuracy. It's not a fun feeling for just about anyone, especially when a statistically superior drop ends up being inferior because it would bring you below the accuracy cap.



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