So we've had this mechanic in the game for a few years now. It really has not gotten any love and kind of is a forgotten mechanic. NOTE: For those forgetting how this mechanic works one ritual replaces the other so you can only have one per item.
Right now there is one option for accessories, shields, and armor. Weapons have two options. All items can get the adamantine ritual instead. There are no more powerful steps on any rituals besides adamantine currently.
So here are my suggestions for making this mechanic more varied and interesting.
*Add a 'metal' ritual for each metal type. Make these rituals grant dr bypass of the appropriate amounts and the armor/shield bonuses of the appropriate type. Make adamantine ritual also do this. Allow a weapon with one metal type to get a different one and keep the old one. If an item already has the metal type applied allow the application, but grant no bonus OR make it function as a tier 2 of that type (TBD). This would add a valuable alternative to the force rituals or AC rituals.
*Add a 'ice' ritual for weapons. Three tiers just like the risia ice games.
*Add an 'ice' ritual for accessories/armors/Shields. Three tiers with the tiers replacing the previous steps with ice guards like the shroud accessories can get.
*Add other elemental rituals if various games allow their addition in a manner similar to the risia games do now and corresponding accessory/shield/armor options like 'ice'.
*Add tiers to existing rituals. Force tier 2 = 2 force damage, Force tier 3 = 3 force damage. Force critical scales in a similar manner. Armor/shield AC rituals add one extra AC per tier upto tier 3. Saves ritual adds one extra to saves per tier.
*Ritual of Sharing. This ritual makes an item Bound to Account. When replaced by another ritual it reverts to bind to character of course.
*Require as components of the ritual of sharing and all tier 2/3 rituals extremly rare drops from chests that do not bind. Increase drop rates the higher the chest level. Things like essence of the ice flenser could be for tier three ice rituals. This creates a more limited pool of materials then the strictly collectible based rituals. Also require collectibles for all tier 2/3 and sharing recipes.
The idea here is to expand this mechanic in a way that tough choices have to be made. More dps for a weapon or more dr bypassing potential? Guards, AC, saves, or ability to throw it into your shared bank and transfer it between toons?