I am one of those gamers that generally has no interest in crafting, so its potential exclusion is nothing lost for me. BG2 style crafting where you just take 2 or 3 components to a special smith would be great though.
Bringing items to a specialist (or I suppose having one as a camp follower) in order to have them forge something special as opposed to just smacking some sticks and stones together makes way more sense to me.
I suppose an additional benefit of also having limited crafting materials is that you first and foremost won't have to play as a Dungeon Janitor that systematically sweeps through every container and puts 50 different logs and mushrooms into your bag. Then there's also the sense of wonder when you find a specific component and you know
it's going to be used for something grand.