Okay.. so I bought this completely by accident. (this isn't my first time doing this either.)
The reason that this is different than a fez is because it isn't even funny to wear and have everybody remember that you bought a crappy red hat. Oh yeah, and this is a lot more expensive.
If the developers could remove this hat from my inventory, and return my crowns (with a little crown fee, of course) I'd greatly appreciate it.... because nobody uses rapiers. Help lol