"Lowest" Character Model Setting Still Shows Some Equipment and Effects

[juno.1840]

Using the "Lowest" setting for Character Model in the F11 Graphics Menu work great for setting the the model to a simple race (human/charr/asura/etc) and armor (heavy/medium/light) configuration. However I still see Legendary weapon skins and effects, gem shop backpack skins and effects, etc..

The purpose of this setting is to maximize performance and reduce screen clutter from character skins, auras, infusions, and other effects.

Can the setting be updated to also use simple weapon models (staff, axe, sword, etc.) and simple backpack models (i.e. just a basic rucksack)?