@Magick I wouldn't go as far as to say that exactly. There's what, two of them? Out of all the times I located it or saw it, all but two were held by an Evil aligned character or Good aligned character. The two exceptions being Merchants, though I lump in Gubeda by himself and Panek/Manek together since I'm almost positive Panek gave it to Manek at one point to try and sell due to having a lot of extra rares on hand. It would give the edge to someone else if it were made with all of those restrictions above, but it also means that Neutrals couldn't stack resistances. Since most neutrals outside of Watcher wouldn't have built in enemies through vendettas, they'd need a good reason to PK anyways, especially if they intend to do so as a focus which leaves them with Syndicate or Tribunal. Or in other words outside of just getting things to become a target to ultimately just lure PKs to them, they may not ever need to use it at all. Where as a Good or Evil are more open in terms of PK so using it would be of greater use since they need less of a reason to kill one another and in terms of killing Neutral as a Good, you typically aren't going to see them getting killed by Goods left and right though the opposite may is true of Evil aligned characters.
As far as the dragon wings though @Manual Labour's thought process actually sounds the most logical in terms of reasoning since Dragons are large and have great sized wings, small races wouldn't be able to benefit from wearing them.