Legendaries are too common?

Just wondering what your thoughts are on this topic.

Legendary:

Of, described in, or based on legends.
Remarkable enough to be famous; very well known

Legendaries by definition deserve to be rare, that is where the prestige element is involved, however nowadays I see more legendaries than I do any other rogue weapon.

This, in my opinion is at least slightly wrong, but I wanted other people's thoughts on it :)

Do you like the current legendary system where they seem to be as common as muck? Or did you prefer a more prestigious system akin to Glaives and Val'anyr?

(needless to say these weapons were not perfect in instigation, e.g. random drops on glaives, but that isn't the topic being discussed!)