I think you guys haven't played the original BG1 in a while. You can get a diamond worth 800 gold, a ring of protection and a ring that doubles your first level mage spells before you have any real fights. A commoner in Beregost gives you a ring of protection for delivering a letter. You can steal a powerful wand of lightning in Beregost. You can get a +1 greatsword off an easy to beat half ogre just southeast of there. A +2 longsword (plus 1 cold damage) off a bounty hunter, a shortsword +2 off a bunch of hobgoblins and Thunderhammer smithy and Feldpost's sells a bunch of them .Ffs you find a plate of ankeg mail sitting around in a field in Nashkel! Not to mention a wizard in High Hedge. This is just the early levels. The wilderness is CRAWLING with magic.
This is Forgotten Realms, there's magic everywhere. I think they've got the magic items just right. If you're not going around stealing from everyone, it will take you time to kit out your party, just as it should.
oops also forgot the +2 warhammer with lightning damage off an easy to beat cleric beside Beregost!
Hidden items you only know about because you've played the game a hundred times or read about them on forums or in walkthroughs don't count, man.
You don't see anyone mentioning the Secret Sword as proof of there being too many magic items in BG3.