This is finally coming into the game, common, uncommon and rare loot!
It wouldn't surprise me if it isn't rarity via cosmetics at this point based on how they've described it with the exceptions of rare items hidden as Easter Eggs like the Pico balls that are just items to have but don't actually give any sort of actual advantages.For me the beauty of Star Citizen was no perk and skill trees, no item rarity, and being a bit more close to IRL. Hope this is only cosmetic, e.g. you find a gold plated "executive edition" gun once in a while, and it doesn't have a x10 damage multiplier.