Yes

Fact is i don't ever meld Materia, or bother working on obtaining and equipping gear beyond Lv230.
I put it on only if i happen upon it.
Because i keep thinking, what's the point? This better stuff is just going to be obsolete in a months time.
So long as the progression in this game remains vertical, i will likely never aim to be the best,
But i would absolutely go all out if it were worth anything.