100% agreed on not having referral exclusives. Some games get away with it (like WoW) because multi-accounting is allowed, so people who REALLY want the exclusives can just recruit themselves, pay the amount needed, then get the rewards, but that's not allowed nor realistic on games like LW. Exclusives for RAF (especially ones that aren't retroactive) are just bad at this point, and if they were going to happen, should have been in from day 1 of alpha (even if there were no rewards until now).
Whether apparel, companions, forum headers, or anything else, there just shouldn't be exclusives, and especially not soulbound exclusives.
My personal favourite for the RAF system is currency, be the pebbles, MS, waters, knucklebone tokens, etc.
Frankly, if this isn't fixed, I'm probably just gonna quit. I'm likely to give it 2-3 days for them to post a "hey, we've heard you, we're thinking about this a lot" and then a week or two to announce (and a month to make) changes, but if any of those aren't met, I'm just out.
Edit: Yeah, with the system currently in place, there's already people on FR buying referrals, which I'm pretty sure violates the multi accounting rule's 'no creating accounts solely to funnel items' rule