I loved the idea of being able to hide in treasure, waiting in plain sight in the enemy's loot pile for an opportunity to strike. However, one odd thing about the disguises is that the more expensive ones feel pretty pointless to use. The disguise breaks immediately if someone tries to pick you up, so why would you disguise as a chest of fortune, which anyone would want to pick up immediately?
When disguises were revealed, I thought the idea behind the "better" disguises like the Chest of Legends and Chest of Fortune was to make them more enticing for an enemy to pick up and bring on to their ship. But they can't bring you on to their ship when you're disguised, so instead you have to get on to the ship yourself, and if you are wearing one of these "better" disguises you stick out like a sore thumb. If you disguise yourself on a ship stacking FotD this season, unless they did a comically huge stack like 20 FotDs they will probably notice they have an extra CoL or CoF.
I thought the disguises would've provided an opportunity to pull a switcheroo with one of the chests and let the enemy carry you onto the ship yourself where the rest of their loot is, but no. It's better to disguise yourself as something more inconspicuous like a collector's chest or barrel. Disguises should encourage players to literally bring you to their loot without them knowing, and the more expensive disguises should've encouraged them to pick you up even more.
