Now that Mythical items have been trivialized to the point that they can be found in Cracker Jack boxes (read: the chests you buy from the faction merchant in Skyshrine), I guess they had to create a new tier of ultra rare items.
Anyone else remembers when having a mythical item actually had a "Wow!" factor to it (not as in the Blizzard game)? Now you play a lottery to get your chance at earning one from a faction crate - and the item is barely better than a Fabled item. The label "Mythical" bears no meaning at all nowadays.
I wish SOE would have some serious, long-term plan regarding itemization in general. Over the 7 years I've played this game, it's been a disorganized mess with no serious direction, being revamped every 2 expansions. That would probably make far more players happy than SOEmote, which will (IMHO) end up with Dungeon Finders and the Arena on the list of forgotten features that look nice on paper, but get very little use once the first 2 weeks of experimentation by EQ2 players is done.