Olympiad, like much of L2, and life, is a manipulation.
You are seeking balance ... fairness ... and it can be done, but not this way unfortunately.
Let's say your request was honored. What about:
- masterwork armor vs regular?
- masterwork weapons vs regular?
- pvp'd armor with their bonus vs regular?
- pvp'd weapons with their bonus vs regular?
- 120 attributes x3 on all armor vs 60?
- augments: some pay billions getting the perfect augments such as wild magic for mages
- gear: so right now I prefer +10 vesper weapons but if +6 was max, then the top s84 weapons that drop from valakas / antharas go way up in value
- epics vs no epics
- belts / cloaks / shirts
- subclass skills
- Talismans
Oly is all a manipulation. Parties / Clans / Allies can work together to feed week characters and make it to where the strongest player / character does not have a chance.
What would be awesome for this game is if there was a round of Oly where all characters ported in identically equal, and you were given access to a weapons / armor room. You choose your gear then go fight. Everything equal. Then the best PLAYER could win a match. Alas, the game is not designed this way.