For the Dev team, they are. But they seem to be oblivious of the item lifespan issue within the game and the sheer power of tome gear killing lots of other content.
First, like Xtrasweettea said, it worked in FFXI because you could swap gear mid-fight, so you could have a set for very specific purpose. Remove that, and even FFXI horizontal progression would take a nosedive. Second, XIV's stats lack depth. Main stats are reduced to one per job and are simply tied to the item level, and secondary stats are nothing more that raw DPS increase. For example, Skill speed is supposed to increase your attack speed (That's the ingame definition), so, as a PLD, you might think that it could be valuable for more Sword Oath proc and faster build on the Oath Gauge, right ? But no, "increase attack speed" is simply "Change the arbitrary value that has nothing to do with speed into damage calculation for auto-attacks".
On the opposite, if Critical Hits worked like in Dragon Quest (Ignoring the Defense), you could have bosses with strong defense for which you would favors a crit set. You could have agile bosses for which you need more accuracy, etc...Elemental resistance could also be a big deal, like going into an Ifrit fight without Fire resistance should simply get you killed.
Also, in FFXI, there were very few damage mitigation and enmity modifiers, so you also needed to take that into account when choosing your gear. You couldn't simply pop Provoke and get back the target no matter what, so losing enmity even briefly could have a very disatrous result. Finally, there was no respawn mechanic and only a few Teleports. If you wipe, all the team goes back to their homepoint and have to walk all the way back to the instance. It means that surviving was a main goal, instead of simply stacking the most damage you can.
How did you get to the conclusion that all of Eureka haters are jerks from a sentence that's saying that your reaction is mature and makes everyone happy ?!