Yeah that is apart of what this system does.
But it also does things that would wreck the current economy. So I can't really support it in its present state. I really don't find the materia system to be defective on the whole, it just needs some polish. About the only other thought I have off the top of my head is less specificty in what you can attach a particular materia to. I understand the desire by SE to make certain slots be primary sources of different stats, but this often too-heavily limits the usefulness of some materia that would otherwise be good to have.