Sounds like you want the Halo 5 system. Hugely bloated pool of cosmetic items ranging through helmets, armour, icons, poses, weapon skins, and visor colours with each update further bloating it. But no repeats.
Also you know, actual power weapons and vehicles also drop in the boxes, which makes it p2w. So that's bad.
Yes. Halo 5 has a bad system too. Are you suggesting p2w is the only alternative? If you are not, I don't understand the point here.
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A simple thing that would make people (not me but the vast majority of people) care a lot less is if they made player icons craftable. This is the #1 complaint about loot crates, by a lot. Even if they cost a ridiculous number of credits. After some point, even if it's level 200, everyone who has been playing for a while will look the same anyways (your main complaint). Unless we want to imply every single person wants the peanut butter jar as their avatar, there is no reason with 120 different options that they shouldn't make player icons craftable, even if for a ridiculous number, other than that the grind MUST be longer to get exactly what you want, when the thing is already so long already.
It doesn't actually take a lot to improve the system. Very small things could be done that would greatly improve it. I am sure there is tons of middle ground we could find SOMEWHERE where this thing doesn't have to be as bad as it is in every single way possible.
Edit: Or they could just let you pay $5 per item. People would care less that way too, although I would not prefer it.