It really isn't.
I've played for 2.5 yrs + and my play time well exceeds 2000 hours (can't tell exactly as steam doesn't register me playing WB through cRPG anymore)
Only had a +3 for a few weeks, thought meh. I use non-loomed gear 99% of the time, unless there's something in the armoury I wanna try.
I started playing a little before upkeep etc, when leveling and gold was slow as hell.
I make new characters all the time, I don't find it bad.
Maybe you're just used to loom crutching? It's different I grant you, with no exp bonus and no looms, but it isn't difficult.