Here's a couple videos showing what the Treasure Wheel will look like in the next version of TLW, after the Rendezvous missions are included as single player content, in case anyone's interested. (It is still in debug mode, though, which is why you can choose from a list of loot sets. That won't be an option in game.)
There's a lot about the WotL treasure wheel that left me unimpressed. In fact, why does it even exist? There's no apparent reason to have it, since each chest is just a totally random piece of loot - this would go much faster for the players if it just gave them a reward list with randomly generated War Trophies. On top of that, the mechanics for determining loot seem to be poorly understood by players, since the system is so hazy about how to get anything. And then the loot pools are so large, it's nearly impossible to actually get anything that you're seeking.
So I completely reworked the concept.
1: Loot is separated into four subsets: Weapons, Armor, Accessories, and Consumables. I wasn't going to include the last category - however, some talk on Discord about the difficulty of getting late-game katanas to be able to actually run Draw Out convinced me to do so, with Consumable chests being able to reward multiple
katanas. This allows players to be able to target a specific kind of loot.
2: Rare items are rewarded based on a dual check system. Specially colored chests can be generated, and they are guaranteed to carry a rare item. But even if you don't get a special chest, you still have a secondary chance of just getting a rare from a common chest. For battles unlocked before Chapter 4, you have a 50% chance of getting a single Silver Chest and a 25% rare chance from any common chest. Those rares will reward the player with loot from a future chapter. For battles unlocked in Chapter 4, you have a 5% chance of getting a single Gold Chest, and a 5% rare chance from any common chest. However, you can pay gil to slowly increase the odds and continually reroll the Gold chance until the current chest is gilded, and you can do this with every single chest in the wheel if you so desire.
3: While the player will be able to open three chests by default, battle sequences such as Knights Templar or Brave Story will increase the number of chests that can be opened, as well as increase the odds of getting a Gold Chest at the start.
With all this, I intend to justify the existence of the Treasure Wheel instead of just tossing the player some randomly generated loot, as well as giving the player the ability to work around the RNG to a large degree, though without going so far as to basically make rare loot purchasable.