The Mystic Cloak.. What am I missing?

[Donruss]

I have a magician alt that I enjoy gathering items for. My friend and I camped him a braided cinch chord, gator scale sleeves, golden chitin bracers etc. We have powerful mains. Anyways, I was clicking around the wiki and came across http://wiki.project1999.com/The_Mystic_Cloak . I am obviously missing something, because it is better than a molten cloak and the quest looks super easy. Is there a faction issue or something I don't know about? Why does every low lvl caster not have this?