I won't be too hopeful on this, but some gear already does that. The only specific example I have is the strategos ring has more spell speed than the Darklight healing ring, and is ilv60 compared to ilv70. But then..... the astral ring has materia caps of much better (SS specifically is only +12, you can add +12 CRIT, and it comes with +8 DET), and the DL ring has 3 more PIE 1 more MND but is only 2 behind on SS.

So, I don't think the new ilv60 gear will be able to compete with the ilv70 crafted, but it may at least look unique, maybe dye-able too.

The ilv80 though.... may be able to compete with AF2 or allagan on specific stats, but I would still expect them to be overall worse (defense will almost certainly be lower).
Although, the ilv90 EM primal weapons will, assuming they're stated like the previous ones, be great for fighting the same primal due to the elemental resistances, but again, probably worse than the relic+1 overall, because of those resistances. And the crafted ilv70 gear (even with 5 materia) is still generally worse than the ilv90 gear because of stat caps and defense.