Some players build up huge Karma reserves through a few specific activities, while others spend it regularly and earn much less. Does a 7 million Karma requirement feel like a useful long-term goal, or should there be more ways to earn Karma through the content tied to the legendary?
The cost can feel less like a steady goal and more like a test of whether you play the right activities. A few sources, such as certain Living World maps with Karmic Enrichment and raids, can bring in much more than ordinary play. If the legendary is tied to newer content, adding a strong Karma reward there would let players make progress by playing that content instead of switching to older farms.
For someone who already does high-Karma activities, 7 million may be a manageable sink rather than a serious barrier. That doesn't mean the amount is equally reachable for everyone. Seasonal Wintersday farming can also add a lot, but it isn't available year-round, so it won't help players who want to work toward the item at their own pace.
More Karma sinks can be useful, but a big requirement feels rough if regular purchases are already using up what a player earns. Daily material buys and converting some currencies into Living World materials can steadily drain a smaller balance. I'd keep the sink if it fits the legendary, but give players a reliable way to earn more through a wider range of activities.
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That makes the source of Karma matter as much as the total. A large stockpile can hide how uneven the day-to-day earning rate is.