Yeah, they got super lazy with magic item economy in 5e and justified it by saying “you can play this game without the expectation of magic items!” Like bullshit, you just didn’t want to deal with the hassle of pricing items correctly to the point that there are items in lower tiers that are functionally the same or better than items in higher tiers. (Ring of warmth vs ring of resistance is an egregious example, but if you look hard enough you’ll find more.)