I would like to explore the idea of a time based crafting system as an expansion of existing crafting. I'm not sure if this idea has been posted before (i'm probably not nailing the search terms), but it would be an adaptation of the existing research system to flesh out crafting and inject a time based element into the mix of dropped vs craft.
The basic idea would be to develop a system where weapon/armor parts are created with the same time based system as trait research (the weapon stats/abilities/enchants increase the time to forge). This system might also use techniques, similar to recipes or motifs (could also research these? Perhaps a crafting quest? would prevent farming)
You would be able to have 1 item going per crafter (or three, like the research skill?), and the time investment could be significant, perhaps a week, 14 days, etc. Possibly allow crafting of pieces with dropped set traits? But the time required to even assemble 1 full set might be a month+.
I agree with the assessments of crafting being quick and shallow, and inferior to dropped gear. Why not then significantly extend the time requirement (but in the same manner as research where it occurs offline) to allow for a far more customizable, deep, and powerful version of crafting that has reasonably sane requirements, unlike GW2's legendary weps, but more in line with EVE manufacturing of T2 or T3 equipment?