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It's a bit disappointing that there are so few badges with rewards (even if they're not great), and they just accumulate without providing any benefit. With my current damage output, honor accumulates very slowly, so some perks for the badges would be nice.
I've collected 4 axes and 4 bows (found a Dark Miner), 40 silver badges, and 541 gold badges, and I have 3.6 million honor points – I received the last bow at around 3.45 million.