Yes it is, I kind of like the scarcity of loot in the beginning. If gear progression scales up anything in power like the previous game you will be swimming in gear relatively soon in the game anyway so I like having to work for it in the start. It just enhances the feeling of fort Joy being a crappy place you want to get away from.
With that said I would not mind at all having more punishment for stealing and more "intellient" AI behavior regarding stealing.
