That is correct. I’d be worried about what that would do to the speed of the game though. Being in majority blues would definitely slow things down across the board. There’s already some classes that perform pretty poorly even with decent gear. The game speed seems good to me at the moment but it depends on what you’re going for, not me. I’d just say that I don’t think people will be getting excited for yellows, even if they become rare. As currently designed the stats are just too random, I’ll vendor 20 yellows over my equipped blue item if the stats don’t line up.
Example would be a blue item that gives me +9 poison spell power on my poison caster. I can get yellows all day that give me +1 evocation, +3 mana, +2 blood resist, +1 double attack or some random combination like that, I’m still going to vendor them over my blue item that’s specific to my classes skills. If they were made to kind of match skills that would tend to go together, or build on that + poison attack in the same slot I could see wanting to make them rarer, but I’m guessing that’s a lot of precise coding to get to that point.
TLDR it won’t matter how rare they are if they’re still random junk that doesn’t match your class.