Gear in ARR is worth virtually nothing outside of 1-2 stars because of how ridiclous it is to get the materials for it. This is even with a BoU system in place. Try selling some HQ melded gear, you'll see that virtually no one will buy it (unless its for relic) and would settle for the usually -700% profit non-slotted NQ/HQ, so realistically, you can say it's because people wold rather choose their own melds, sure..but in 1.x it was a 'problem' because it was insanely easy to get materials for everything..I mean typical ants around Halatali dropped Crawler Cocoons for example and peacock ore was basically the "here's your consolation prize" item - Not to mention Red Corals? Yeah go PL some people on Orobons for a few hours.
You left out that crafting in 1.x was much, much more easier to do in terms of materials and the fact 99% of Craft leves supplied you the items needed for turn in and you just had to turn it in after making it. Atm there's not that much of a demand for crafters (even Yoshida admits this by wanting to make it relevant again) when dungeon drops from Aetherial to 'Green' is usually a step above the crafted HQ equivillent.