Part of the cRPG content is also competitivity, which looms obstruct. To be able to experience the full content of cRPG, you need to be able to compete, which requires you to have looms. Therefore the grind in cRPG for looms is the same to me as having to chase 'new' gear and levels in MMORPG's.
Of course not having looms compared to everyone else having looms reduces the fun you have while playing. Surely needing 4-5 hits to kill everyone while they need 2-3 for you gets on your nerves at some point, don't you think?
Looms are not customization, they are simply bonuses. I would be fine if looms provided trade offs, if you like to have a fast spear with lower damage, go ahead. It is the absolute advantage they offer you because you are willing to grind, which is stupid game design in my opinion.
Put yourself in the shoes of a new player. You come into a game where you have a huge skill disadvantage with an enormous learning curve, on top of that there is also people who have a level 33-35 character and full sets of looms. A quick calculation tells me that to retire 9 times, which gets you 3 masterworks, and to get to level 33, you need to play about 850 hours. 850 hours to get at a somewhat level playing field with the established playerbase. Tell me with a straight face that is not stupid and disheartening?