No. FFXI was gear based, but it worked. In FFXIV, the idea you are proposing will be materia based. Having good materia gear doesn't revolve around being able to kill x enemy y amount of times and being good at the game. No. Having good materia gear revolves around you A) Having a lot of money and B) having high craft classes or being able to pay A LOT for people to meld it for you.

Essentially, the idea you are proposing is an unnecessary time sink that will just lead to more elitism (as if we don't have enough of that already) and I for one do not approve of your idea.