I think the main thing is to leave 100% luck, so that this characteristic itself is more or less useful, and then mini-artifacts and other things become a secondary issue and are adjusted accordingly.
The main (and very significant) argument against 100% luck is the balance between tactics and chance. Especially in the context of WGE, where units deal more damage and normally destroy a third of a stack per attack without any luck. For example, you break through an enemy dragon, and it deals a lucky counterattack, taking not 25-45%, but 50-90% of the entire stack. Even if the luck was only +1. It's one thing when there is one unit with such a deadly ability; you can somehow defend against it. But luck applies to all troops at once. With 50% luck, 25-45% would turn into 40-65%, which doesn't deviate so sharply from the range and is easier to anticipate.
It's no coincidence that in The Restoration of Erathia, they reduced luck to 70%, and people complained about the randomness.