I'm going to add an argument that will further deepen the topic.

Well, first off, Ultima Weapon is the better sword than Ragnarok in FFVII, but what about Illumina?

The code rumors say that if you fill Ultima Weapon's Materia slots, it will transform into the more powerful Excalibur. The Ultima Weapon in FF7 is at almost the same level as Masamune, but would the rumored (I know it's fake) "tranformation" to Excalibur make it stronger than Masamune?

Makes you think, doesn't it? Or maybe it doesn't...