Actually if you remember, great loot was hard to come by. Just look at greens. In bl1 greens had a lot of crap and redoes. In bl2 you can beat tvhm with greens. There were a lot of junk oranges in bl1 in bl2 I can only really think of situational bad oranges, and the flakker, that gun sucks.
The problem is I don't think its intentional. Its a compound percentage system instead of a normal percentage.
If there's nothing to look around for you really didn't read my post, did you?