That's the PR reason. What more likely is that there were too many chargebacks from people who fell for the 300 million gil scam that the payment processors gave a stern talking to SE.That's the official reason they gave. From the announcement post in October:
This makes a depressing amount of sense. But it still doesn't explain why they can't implement a system that just doesn't allow you to purchase for them because they already own the item in question, especially for mounts and minions, when there's already a public system in place on the lodestone that tells you what a player does and doesn't have.
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