The magic items in BG3/DnD5e won't be nearly as prolific as in D:OS or the more recent Pathfinder: Kingmaker. This will make the ones we do get matter more.

However, I do care that magical items aren't overpowered. Especially in a setting where such items are relatively rare. Two main reasons for this, both of which diminish player agency:
* OP weapons tend to function as strait-jackets and enforce a certain playstyle over others to be competitive/as strong as you can be.
* OP items take focus away from the characters; your loot matters more than your build.

There are better ways to give characters OP abilities that do not enforce specific builds or detract focus away from the character, like the Bhaalspawn abilities of the first games or indeed the super-powered tadpoles of BG3. Beyond that, I feel magic items shouldn't play a vital role until perhaps really late levels.