I prefer this approach over simple randomization, which honestly is more about just changing numbers than having truly interesting differences between items. The latter is achieved via additional abilities that cannot be randomized. So I'd rather put effort towards developing these abilities!
Hey man you do you. If you feel up to making loads of unique items in terms of feel/design. It is safe to say I am your fan, I think I would follow any game you make... real talent here.
I like the approach in Cogmind. TOME, for instance, has loads of randomised items, but it's hellish trying to sort through them trying to find what you want, and there are terribly marginal differences between a lot of items resulting in a lot of wasted time spent making decisions.
The Cogmind way means items can be learned, and then you don't need to examine them - you know them just by their name, so you can make split second decisions. And there are lots of items to find.
Addressing concerns with that I stated here. Yeah, I think you should have standard parts basically "core" designs that are mass produced. They aren't considered prototypes, they are gear and equipment found 80% of the time off of machines you kill and most transports/rooms. So, guided munitions "missles", volley weapons, lazers etc. will all have very standard unique characteristics. models that are not random, and very consistent. My thought was an icing on the cake for prototypes you would scan to find their function/design etc. my thought was it added to how prototypes work in my brain. 1 or 2 are made with very unique stats (maybe not so unique function), and
you have to produce more of them through fabricator.