How does the item system looks in this game?

[Urthdigger]

This. Just know that craftable gear will have stats about 20 item levels less in value relative to other colors with the same alleged item level. Likewise pinks can vary hugely in their total secondary stats per item level, though their primary stat values are of the same amount per item level as all other types. That's it. Apart from those two exceptions, all colors are identical. HQ whites/grays, Pinks, Greens, and Blues (no serious gear will be Purple) all have the same primary stat values per item level, and all but Pink have the same secondary stat totals per item level.

NORMAL QUALITY craftables are functionally a lower item level. High quality crafted items are THE SAME POWER as colored gear.