I think the point is that there aren't enough artists to do all the art for these things, and the code for them ingame isn't really ready to support things like that yet ^_^
Yes, there's armour.. But of that many different types? How would they be distributed? Loot? Quests? Store? How expensive? How rare? Quests barely work, loot is unstable.. The whole lot of it's unstable really.
And I think it'd be better if the artists were spending their time on completing the models for characters without them instead of making extra decorative armour that will probably be removed/downgraded/wiped/replaced/whatever in the next major version.
Also, I don't expect to see knights and samurai around Yliakum anytime soon..
