I don't really mind as long as there is a lot of depth in character set up. So if you give me three pieces of equipment and a whole boat load of materia it is better than four pieces of equipment and two relics. Sometimes itemization is done well where you actually have to pick and chose gear for the builds you want, but often times it is just every piece is better than every other piece that came before it.

The only downside is that it kind of eliminates the amount of loot that they can doll out through chests and the like. Finding stuff I can really use is one of the hallmarks of an RPG Square-Enix, remember this!