I think level 98 was a good level for the new driver. Remember, lots of players have been playing for a long time and obviously there are a lot more level 98's now than say, 6 months ago, so the level of item will just continue to increase over time. It's also a way to combat sandbagging, a little.
It could be seen as rewarding players that have been here for quite a while and have leveled up, or unfair to players that have only started playing more recently, play often, but simply have not been here long enough to be at level 98.
The only fair way I see to make both sides happy would be (and I know we've all asked why this hasn't been implemented a million times) to unlock all equipment once the player reaches legend tier.