Yes, there are lower level exotic and classy items in the game. I think I had a few of them on my 4th character. I think i had a 180 something house and a 210ish hungry hog if i am not mistaken also a few 200 something classy items. Unless they did a silent change I am unaware of. Yes you would need to drop world tier in order to get them, I think Resistance is the best way to farm stuff like that too. Not sure if WT1 has them but pretty sure 2-4 does.