I don't know dota2 but had a look at the system information from the wiki page not the gamefiles.I suggested it a while ago but the devs HATED it. It's pseudo random distribution used by DotA 2. Effectively what it does is it increases the probability of getting an item or an effect every time it misses its chance to activate. It has a "worst case scenario" limit which should be implemented in this game because it contains so much random book loot which I personally dislike.
As I said however the devs hate this idea.
From a quick look you have different characters with different abilitys.
Different characters have different attacks and different effects.
There is not a lot of these to keep track of in a mutable table in memory when you separate these into individual character/player groups.
If you look at 7dtd then the book items alone would be more than all of the events listed on the Dota2 wiki.
Like i said before you have to keep track of these for all players and guess this would be an accessor and mutator nightmare.
The item probabilities do scale in 7DTD you just have to keep playing the game and maybe they could do with fine tuning.
Saying that the values will more than likely be adjusted next alpha so it a step back for the fine tuning stage.
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Answer to the debate about probability being attached to player level it would be set at the highest of the party.