This has been suggested everywhere now. Even most of the big OSRS YouTubers have acknowledged it at this point.
And this suggestion goes back from YEARS ago.
This update is extremely important because Ironmen account for 27-30% of the voting population and they are a ever-growing voice in the community.
Jagex has revealed statistics on how much of the voting population is Ironmen.
30%: Sailing Poll Results Summary
Ironmen made up 30% of the total votes in this poll.
27%: Group Ironman Poll Summary Blog
You can also see that the poll was largely driven by 'main' accounts, but Ironman accounts accounted for a sizeable ~27% of voters.
With polls requiring a 70% supermajority to pass, and a 30% opposition to fail, it is unacceptable for 30% of the community being Ironmen to basically be an "automatic no vote" due to being excluded from PvP content.
Ironmen have two major problems:
I think this update would be great, but it's only half of the equation due to how bad risk is for ironmen. The other half would be to pair this update with or after the release of Blessed Status.
Blessed Status covers what they risk. Loot Keys to Bonds-Only Coffer makes PKing not be completely worthless to them.
Now I know the OSRS playerbase well enough to know that multiple people are going to ask:
"Aren't people going to exploit this being GE price based by using overinflated worthless and obscure treasure trail items, and what about new items in the game that don't have a settled ge price yet?"
My counterpoint is that if the Loot Keys use an "automatic GE selling system" that sells the items on the real GE, then this should not be a problem because nobody will buy those obscure items outside for more than their street price.
Community posts on this idea: