A Plethora of Legendaries?

While I've yet to enter Moria proper yet (I'm still playing through Eregion content) my kinmates have been sending me legendary items for my class (captain). Most of these I can't use yet, since I'm level 51 (soon to be 52!). But it seems to me that there are a considerable number of these items in Moria. I have to wonder if this is a bit oversaturated. I mean, after a while, you're going to be flooded with legendaries you have no room to level, runes up to your eyeballs, etc, etc. It almost seems like an over powered system.

Again, I haven't been in Moria myself yet to see if this is the case, and certainly I should ask my kinmates about it, but what does a ton of legendaries do to the gameplay? Well, for one thing, you'll be more able to get the exact combination of legacies you want on your items. If you don't like one weapon, there's surely another just around the corner. This is furthermore enhanced by the choice of legacies (between two random options) when reforging. Add in the runes from breaking unwanted legendaries down and you have a further ability to pick and choose what you want. Relatively speaking, you'll have the legendary of your dreams in no time.

Is this overpowered? Is it cheap? Is it ruining the challenge? Honestly, I don't know yet, having not experienced the challenge of Moria. We shall see if my initial observations come true in the weeks to come.