Well, you are the one that said you didn't like having to regain favor and wanted to keep it when you rerolled.
It doesn't matter why someone personally plays the game, they can't build a game based on that because like you've pointed out, everyone plays for different reasons, and often those reasons conflict in what players want.
I've never been to keen on the idea of bound items, it seems rather silly, unless that is the very nature of the item, to bond till death with someone, but these aren't really those kinds of items.
But I also understand the reason for bound items in a game. The very reason they bind items is to keep their population low. The ability to pass them to another character, even your own seriously underminds that.
Games that don't have bound items or a way to remove items from the game eventually have an amazing glut of items. In EverQuest 1, this was true, and the makers of that game pointed out how perfectly good items have become completely usless because they are so common, along with better items that no one even wants them in trade. Why? Because items so seldom actually leave the game.
Basically all this does is allow someone to keep recycling a character into a more powerful version each time you level up and then reroll, with no loss. To you, the one player, you don't see this as a problem.
But to the game at large, over years, it becomes a real problem, as many players will do this.
And as for making powergamers and rerollers happy, again, they can't approach the game from that angle also. It's impossible to make one kind of gamer happy without upsetting another. And if there is one thing that is unfair, is doing that. They make the game, you experience as you want to. That's about the fairest you can expect.