Could Vanity Slots be implemented?

Because using the best gear but looking like a Rainbow Knight or some onion guy looks stupid(ly hilarious).

Vanity slots are slots where you put items in it and it’ll appear on your character, but the stats you have will be the one on the actual equipment slot.
It’s similarly called in other games as “Costume Slots” or “Avatar Slots”.

There is the good-looking mod. It allows you to show one item while equipping another.

I have never tried this mod, but it seems to accomplish what you want.

That would give a use to white items.