The Rarity of Netherite is common. This means that, for example, an Oak Log and a Netherite Block have the same rarity.
This is inconsistent with the criteria stated in the 24w33a changelog:
Items and blocks become more rare depending on the following factors:
The chance of finding it in a loot table, including mob drops
The amount of travelling required to obtain it
The difficulty of any obstacle which must be overcome to obtain it
The possible amount of that item or block which exists in the worldNetherite matches all criteria.
Can confirm, the rarity of the netherite sharp, ingot or any other netherite items is common.
But this is probably an intended feature.