We've seen players ask about this before, and have some clarification for you from Jason Attard (Senior Game Balance Designer):
This behavior was unintended, but we do not consider it an exploit. We do intend to make reverse engineering more consistent in the future, and that may be by not allowing this or by allowing players to reverse engineer this type of mod by design. We do not consider this a violation of the rules.
A month late response. As much as I enjoy that our guild has nearly every mod/hilt/barrel/enhancement and armoring that is 27, it once again completely DEGRADES the gearing up process because now, three weeks into the brand new raid.. Most of our raiders are completely geared up and didn't even have to wait for Campaign drops to accomplish that.
Gearing up TOO FAST is a major reason people left this game in the first place. There was no "Carrot on the stick" to keep chasing becasue you already devoured it. If there's no reason to continue to raid for gear, what reason is there to go into it? Winning? The first kill is extremely satisfying from a Hard mode perspective, but if everyone is completely geared out... the next kill leaves a sense of "why are we doing this again?" There's no thrill, there's nothing to look forward to going in there and after you've finished you've come away with completely nothing but some Black Hole coms to spend on gear to give to your alts. (which continues the process of gearing up too fast)
Some would argue that you should be going in there just to blow **** up with your guildmates and from a certain perspective I can completely understand that. However, there are always those few folks in the raid who feel it's a burden to be in there if there's no point to it for them. They are then debbie downers for the entire run.
The "Other" game fixed this carrot issue (Though most of their encounters were not clearable in the first few weeks...and you most certainly couldn't be Best in Slot within that time frame) by adding achievements and innovative ways of doing specific boss fights. Alternative ways (that were much more difficult in most cases) that challenged the raid group and rewarded them with something special.
I hope the development team realizes that they need to add more incentive to raid and shift away from the instant gratification crowd that has ruined many games.