Weapons and Armor seem a little... bland?

I tried searching and couldn't really find anything on this topic. I know they have stated that it takes a while to make new armor and things but I was wondering when we would start seeing special stats on armor or weapons like "Haste +2%", "Trunksplitter Damage +5%", or "Cure Potency +3%".

Maybe I'm just not understanding but is this what the Materia System is going to give us? I haven't seen any examples in the Materia System posts, but they do say "beneficial stats" so am I right in assuming that's what is going to happen or by stats do they just mean more HP/MP or STR, INT, and so on?

Anybody know if that's what the Materia System is for and if not please post if you want armor and weapons with special traits!

Thanks for taking the time to read!