I don't think recoloring a quality art asset is an insult. However, I do think doing a good job of the recolor is important.Premium cosmetics are very cool.
In the other hand, the skins for Morgrave named armors are just recolored versions of Sharn clothes, an insult for people looking to glammer something new. That's very lazy and phoned in, as mini x-pac, at least Saltmarsh had beautiful smuggler themes and clothes...