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I guess you have a different definition of endgame weapon. Let me rephrase: it is "the best weapon that exists".

Executioners are just as good.

So people who started playing a year later should be forced to use inferior items? I don't see how that is balanced.

Executioners are not inferior.

Agent equips are not end game items. There are many normal items that are better than the agent ones.

I fail to see how the many 6+ dex 6+ luck earrings are worse than pre existing earrings.

And no, an executioner cannot beat a lunchbox. Weapon attack isn't all that matters; a lunch box is speed 4.

And an executioner is speed 5. It's not that big a difference, especially since you'll usually have SI available at the only place that matters. A boss fight.

Ok, if a new level 130 weapon is released, how will I wear it? I can't pass level 120.

If you can't pass 120 why the f'uck would you care about this? You clearly don't give a s'hit about training, and you probably don't boss. Not having a certain weapon shouldn't mean anything to you.