I'm sorry Derek, but I respectfully disagree. Having Lesser Rings would "point us towards the events of the text"? And what's wrong with that? How about all the Eagles and Ents we've had in the cycles and not in the sagas, the only time when those factions did anything? Those guys did nothing and stood back during the 17 year gap and yet we can still bring Treebeard to fight at the Fords of Isen or Gwaihir to the Morgul Vale. I'm sorry, but that doesn't convince me.
The whole point of the game is to ask "what if"? "What if Beorn went on the quest?" as Caleb himself says in the Team Covenant Black Riders video. You say Lesser Rings would be too much to handle for the game? I think you're involuntarily insulting the developers with that claim. Of course they could handle it, just like they've handled everything else. You say Artifact related themes should be restricted to Encounter cards? Then Caleb&Matt clearly made a mistake when making The Seeing-Stone and Keys of Orthanc, and the whole Doomed mechanic, because the whole point of that was to slap an Encounter keyword on player cards to represent the shady stuff. We're getting Haradrim allies/heroes next cycle, allies and heroes we could bring to Arnor if we want to. Is it too much of a stretch to think Glorfindel might have had a minor elven ring on his finger during his travels?
This game is THE chance for the players and creators to go all out and really explore Middle Earth. Thematic concessions must happen. Sure, we'll hopefully never see something as an Orc hero or ally, but never seeing more Lesser Rings or Palantiri because they're too risky? Come on. The whole point of the game is to encyclopedically explore Middle Earth, and what you're arguing is just restrictive to that goal.
Wow. I appreciate your passion for the game.
Allow me to try and further explain myself: a big "what if" would be "what if they found ring X". That is a topic more worthy of storytelling than a new avenue of mechanical usage. That's my point when I say I think it would better be handled by encounter cards. Rings become less special the more of them they are.
And my short-sightedness or lack of imagination for new game mechanics is not an insult to the devs. Thanks.