They will retain any Ladder-exclusive items
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A character created for a specific Ladder may only play other characters from that Ladder. After the season, Ladder character will D2R Items into non-Ladder characters. They will retain any Ladder-exclusive items located in the character's inventory.

The game's initial Ladder season follows the release of the major patch 2.4 update, which brought major class balance changes along with new items and runes, modifications to the various mercenaries in the game, and more. It is the first major patch for Diablo II since 2010's patch 1.13c.

For sure, and it took the eagerly-awaited Diablo III just under two years to sell 15 million copies. And it included console versions too. All that could be why Diablo II: Resurrected co-developer Vicarious Visions was absorbed into Blizzard earlier this month, and is now called Blizzard Albany. The studio will now provide "long-term support" on diablo II resurrected items games exclusively.