Keep the loot sparse, unique and rewarding when you get it.
If there was a single aspect that was almost unquestionably utter garbage in the past Original Sin games was precisely the randomly generated loot and its nauseous overabundance.
If anything even in its current state BG3 is in DIRE NEED to make inventory management more slim, not more cumbersome.
All keys could be automatically grouped in a "keyring" container and all texts have a separate menu without cluttering the inventory, for instance.
+1
This! Too much magic loot just cheapens the experience.