I totally agree. I’d be in favour of stats maybe contributing an additional 10% of current values or so, but it would be much too linear, and devalue equipment for basically no advantage. If done correctly, equipment can be a great source of content, and can potentially even be made to lessen the effects of power creep.
While the levelling process does need an overhaul, it would have to require even more than that to accommodate mostly stat based progression, or else it would just mean running a dungeon a few times to “progress.”
TOS’s current system has the advantage of a more balanced approach, where levelling and equipment are rewarding, along with other sources. With further tweaks it can be made even better.

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