Token based system with low drop rate chances would work.

The issue with FFXIV is the gear isn't class specific. When there are only 8 pieces of loot that can drop from a dungeon that people really want, you can't make them 100% chance to drop. If, however, the gear was class specific, and therefore, there was more of it, this wouldn't be nearly as big of an issue. Not to mention, in dungeons, only the final boss drops the loot people want from said dungeon, so you're limiting what can drop even more so.

Add more gear to the game. Even if they're just recolors of each other, up the drop rates a bit so things drop more often (although it may not be a piece YOU want). Make the gear more class specific when it comes to stats or even requires to equip it. Put in token systems so you can purchase gear of the same brand but not the same quality (For example, have the dungeons/raids drop +1/2 variants of gear you can purchase using tokens). Everyone wins on that one.