Kythik
Molten Core Raider
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Time-based snapshots of supply and price could allow you to extrapolate effective rarity. I don't know if that data exists.
And, yes, I agree, HH and MF gear should be removed. HH because it restricts design space. And both because they increase "drops per map".
I'm not trying to go with the slippery slope fallacy, but with the effective increased drops per map in mind, wouldn't you also want insane MS builds to be removed? If the loot system were to be reworked I'd fully support MF to be removed--as it is though I'd probably stop playing if it were. Personally, I would rather the HH be insanely common, with mechanics worked around it, just due to the overall fun that the items provides--though, it requires certain builds to be at max efficacy. Maybe even as a true skill tree node not requiring something similar to ILs.
I really hope in either 3.8 or 3.9 GGG does something to address the watering down with new league mechanics. At this point, unless one spends a lot of currency target farming, the average player probably sees close to no benefit from any of them. It took me about 1000 maps, not target farming, to get my betrayal board right. Then I spent another 1500 to perfect the board, with full rivalries, before I fucking clicked remove rivalries by accident. Also, the ROI disparity that exists should be addressed.