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Appreciate the feedback so far everyone -- we're not certain yet whether we will repeat this idea or not. (re: collectible that is, we definitely still want to experiment with bell lotteries in the future if they're functional!) I definitely understand how losing a lottery an entire week for a collectible that can't be obtained any other way is going to be frustrating. But we also like the idea of having different methods of obtaining items besides the same old ways every time.
In the past, we instead relied more heavily on just having the item in the Shop with a limited stock and there essentially just being a mad rush to purchase the item when it was stocked before it sold out, typically in 1 minute or less. For obvious reasons, that has plenty of its own issues that older users will remember well. In some ways, a lottery like this is just a more civilized and possibly fairer version of that.
Of course, there's always the option of just having neither and the item available in an unlimited quantity (or high enough to be unlimited essentially). I know some would be happy with that, and we do that for some items. But I also know that a lot of you get a lot of fun out of the rarity and trading aspect of some collectibles and would feel like something is missing if everything was easily available to all.
One final thought in my mind I'll share in regard to a future lottery collectible event like this though is to have a second option of also purchasing it in the Shop for a limited time, at a highly inflated price that's higher than what we would normally charge for a collectible. (500? 1000? 2000? not sure) So the lottery still serves a purpose as the most affordable way to obtain the item with some luck, but it's not impossible to get your hands on one if you are really unlucky and can raise the funds. (and essentially also setting a trading market price cap, at least at the release) How does that sound as a compromise? Of course, it would depend on the price so it's hard to say without deciding that.
That's probably more text than anyone cares to read, but just wanted to share a few insights on the matter and collectible distribution in general!