Hey @CasensHyper,
This event should be more in line with what FaIIenAngeI777 mentioned. Common attachments and equipment are what's being affected, not all loot.
Another Takeover is hitting the normal Play Apex playlist. In “Locked and Loaded”, hit the ground with a full loadout of level 1 gear. You’ll have a Mozambique, White Shotgun Bolt, HCOG Classic Scope, White Evo Shield, White Helmet, White Backpack, White Knockdown Shield, two Syringes, two Shield Cells, and one stack of shotgun ammo. What more could you possibly need, right?
All Common/White level attachments and equipment will also be removed from the loot pool (outside of Common scopes) during the takeover. Drop in and knock ’em out!
Feel free to check out the full article if you haven't already seen it!
https://www.ea.com/games/apex-legends/news/season-8-anniversary-collection-event