Wicc
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The problem with the orb is also that it occupies a useful slot. In fact, it doesn't even occupy a slot, but rather frees one up – you don't need to take elemental books and stat boosters.
The same goes for the cloak, which is taken instead of +2 speed, which is noticeable.
If the orb were a shield+weapon combo, it would be a rather strategic item, not obvious in terms of application conditions.