Let me make a comparison to a game where all the gear has the same stats and requires modification (eg materia, +1,+2, etc) to become more powerful. In this game everyone wears whatever they like or feels the coolest.

However because upgrading something that only provides 2 points of defense into something that provides 20, requires the equivilent of "spiritbond" 7 times, and each enchant risks destroying the item completely, you only end up with a 1% chance of ever having a fully upgraded, enchanted item, and even then...

The game soaks you for repair costs which also have a chance for complete destruction. The game stops being fun when an item you just spent a month taking care of is destroyed by the 99% success rate repair option falling into the 1% fail.

So no, I don't like other games upgrading/repair systems. FFXIV's doesn't waste your time if you don't want to. But the cost to this is everyone at endgame winds up with exactly the same gear and thus looking almost exactly the same except for their face.