When I look at an item, the stat requirement is shown in red. So it looks like I cannot equip this item. But I actually can equip this item without problems.
I absolutely agree with you here - it is a crap system.
There are plenty of items you may find that have 11 or 12 required in FIN or CON or whatever to equip.
I have 13+ in everything (as I have +3 from the roses) but still I get red "requires finesse 11". In Red.