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I'm not totally against the idea of the ability to change itemization, but implementing a system like the aetherial gear at endgame isn't how to go about that because it is, again, random. And if you've ever played Diablo 3, you know how unfun it can be to farm the same item you already have over and over just to try and get that perfect roll. (RIP that perfect Sacred Harvester I dismantled)
Perhaps an expansion of the materia system would suffice for this, but honestly, materia alone is probably enough. It's easier for SE to balance the classes when they don't have to take into account a bunch of player decisions.
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The aetherial gear was nice, they had them in diadem... it sucked... I got a healer top with +6 piety, +115 Spell Speed and +15 critical... and there's no way of knowing you would ever get the perfect stat set up. (the +6 piety was so bad it was like why even....)
It would work as maybe levelling gear, like how it was in 2.0. When levelling the stats weren't as big a issue. At 70, doing savage, not really.