Hmm I don't know, I don't think it would be well implemented even if they tried to do something of that nature and it would be just way too much work for the game as it is now.

Also, I don't really like the fact that in your suggestion, character development = acquiring gears. While great gears should give you a fair advantage, I think that you base stats as a character should be what defines you.

Your system only have the advantage that since the gears define you with their stats, you can have different playstyles by equiping different gears. This though can also be achieved with the current leveling system we have + the gears.