I've got no problem with random loot to an extent. However, I do agree that there should be some semblance of progression. Optimised loot tables would go a long way to dealing with some of the issues random loot presents. For instance, I don't I found any better gear for my mage from the end of Cyseal til all the way through Heiberheim and halfway into Luculla. I still have a level 7 staff at level 15 simply for the stat boosts rather than equipping a basic staff that is closer to my level.
Actually, that's the beauty with mages, you can get away with minimal loot. You can even challenge yourself and play them naked
The issue is that staves don't have many options going for them. Orange staves come with 15% chance to blind, etc. and casters usually aren't wanding things later into the game. A blue staff with +2 int is infinitely more useful than an orange wand with 20% chance to chill on hit.
Maybe it is just me, but I would like them first to spend a lot more time on making the game harder (more complex AI, etc...) as those are types of things that really need a more professional touch Loot design for now can easily be handled by the modding community.
These loot arguments are kind of pointless when you can destroy encounters without too much concern to character gearing. I think that once they are able to really ramp up the difficulty, then maybe more detailed min/max arguments on loot will be warranted.