But, you know, I could also say that boring loot has been standard MMO stuff for a while now. If you recall early WoW there were a lot of stats that were not relevant to your class. INT on a Warrior, for example. So, if you look at modern WoW character sheet they don't even list them anymore. The primary stats of a Warrior is STR and then there's STAM for hitpoints, which everyone uses. Items tend to have an even distribution, with more tank themed items perhaps having a little more STA. Then they have the secondary stats that all classes make use of. Critical Strike, Haste, Mastery and Versatility. So, your class items will always have the two main primary stats, then they vary with the secondary stats, which will benefit you pretty evenly, but still lets you sort of add flavour to your build. Maybe you like doing crits for the big numbers, but someone who likes Haste will do just as well by getting in more attacks. Mastery effects all classes differently, but adds power to their spells and Versatility is a pretty generic % bonus to attack/defense that works out just as effective, in most situations.
Lost Ark is similar. The basic stat of a weapon is just "attack power" which translates directly into damage. (without the randomness of a damage range to balance for. WoW weapons damage ranges have become so small they're mostly irrelevant) I think you can hone it a little for a few % more attack power. Then the armour pieces have a little more going on, but still similar to WoW, with the two primary stats, but "armor" is separated into physical and magical defense values, which can also be honed a little, and two secondary stats. However, Lost Ark does have a couple more secondary stats. There's Critical Strike again, which is crit chance but not damage. Mastery, with varying effect based on class, same as WoW. Suppression, which increases damage done to disabled/weakened/CC'd enemies, but doesn't effect "chip" damage - a new type of health bar. Swiftness, similar to Haste in WoW. Endurance, which is a defense based secondary that no one ever uses, effecting AC/shields/recovery rate. Proficiency, which gives a + or - to duration of status effects inflicted/sustained and increases damage to bosses "disable" bar for if you want to knock them out.
Beyond that basic comparison, LA also has traits called "engravings" which can be learned via books, to a certain extent of 12/15, with every 5 points being another rank, then the rest need to be filled in with points from jewelry items that also come with points in negative engravings. So, you want to be careful with your items not to stack many of those and try not to get 5 points of any of them.
Also, LA let's you put points into your skills/spells which you gain on level up, but you can actually find more skill points in the world which are account wide skill points that make leveling alts overpowered. Also, for skill ranks 4, 7 and 10 you can add another bonus to the skill. Sort of like runes in D3. So, there's some theorycrafting to be done there.
There are some other progression systems, too. There's quite a lot going on and I don't know it all. There are even some non-combat stats like Charisma and a few others that come into play while romancing NPCs that comes with rewards that can contribute to progression with things like stat point books, etc.
So, LA itemization is actually on par with the genre. Maybe even a little more complex.
What I don't particularly like is the enchanting system where your chance to succeed starts to drop beyond +10 and by +25 you're dealing with a tiny 1% base chance to succeed. However, unlike other games, like Black Desert Online, failure will not reduce the items enchantment or destroy the item. It will waste some upgrade materials you'll have to farm again. But it's also worth mentioning that full +25 gear isn't required to access any content. Mostly +15 is enough. There's also content, I think called "Hell" mode where gear isn't even counted and its all normalized. Also, PvP is normalize too, so no unbalanced PVP here, unlike WoW.
Anyway, while the new system in WoW, where you can pretty much ignore everything but the "Gear Score" value on an item, might seem boring, getting a better GS item is actually pretty satisfying and noticeable. It's also much better than running a lengthy dungeon or raid only to get an item for your Warrior with INT that would be better suited to a Paladin, but still beats what you have in slot - making it an upgrade and causing an argument with the parties Paladin who also wants it.
Again, I'll need to experience it before I can judge how well it all plays out, but just going over the stats, as an RPG veteran, it looks like a good enough system. Maybe the Engravings are a little boring and it looks like everyone tends to go for the same few like Grudge and Cursed Doll which makes the books cost a fortune on the auction house while ignoring ones that sound good to me like Heavy Armor and are quite cheap to max out. But, yeah, I'll have to see how it goes.