I think they're necessary for the game

We could put some thinking into this. I'm not trying to argue for or against Pheons. I believe they're essential to allow an even exchange rate for currency. In addition, I'm not convinced they're a factor in boosting the cost of the accessories, get cheap Lost Ark gold from P2Pah. And Let me tell you the reason:

T3 Stones and T3 accessories will cost you Pheons, regardless of the actual cost.

There are plenty of accessories and stones for just 100 grams or less.

The majority of the cost for purchasing these accessories is due to the pheons which are attached.

If you take out Pheons, demand for these products would rise, but the supply of these items would remain the same (maybe some people would consider selling their subpar accessories)

Demand is rising and supply possibly increasing at 5%, prices for these gadgets would go up 10 times over, and end up costing about 100g, which is more than the amount you pay now for Pheons.

I believe that many are underestimating the value of this change.

With a complete range of T3 chars that you are playing every day chances of getting an old acessory worth trading to an alternative is really low.

If it's a good accessory, it's usually better to get it sold and then pure gold, knowing you'll need to pay for pheons in order to purchase an additional one in the future. Why? because by trading in a great accessory, you're forced to create the same set of items based on one particular item.

If you have only the gold in its raw form it is possible to look around for various combinations of engravings that will complete your set at a less price.

Being able to design your own way can save you far more than the price tag of one item is worth.

The second major point is that it's made specifically designed to ensure that you don't alter your Alts too quickly.

They've stated that they don't want non-lifers to slow the pace of the game . They have set up strategies in which Alts provide just a tiny advantage aside from gems and UNAs duties.

However, many still believe that Alts can be the sole way to make it in the game which is why they die from a million cuts events and phoen cost which are truly good for one person but not as much for 4-18 characters.