As someone has already mentioned, it wasn't until Flowing Thought (FT) and Focus effect gear came into existence that gear substantially improved caster performance in the same way it improved the lives of melees.
Note that for the majority of a bard's duties, they fall into the category of caster. I can get a 2.0 mod drum from a vendor for <10pp and be 83% as effective at kiting as a bard that spent 15+kpp on the best drum out there. And the rest of my gear? doesn't matter, I shouldn't be getting hit.
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