Leaving aside the economic inconsistencies of crafting, I'd say the time it is/should be really useful/fun is the early game, when you cannot afford to buy the best gear.
To make crafting more useful more quickly, I propose to drop the current unlocking mechanic alltogether and that the crafting components should instead be made available en masse based on crafting skill - say, if your skill is under 20, you get all access to all tier I components, at 40 you get all tier 2 and so on. This would allow you actually experiment and have fun with the crafting system early on.
Second, I would simplify the categories, and abolish separate crafting categories for one-handed and two-handed swords and axes, where the choice of handle would determine one- or two-handed use. Maybe also for pole arms, might be less clear cut though.
To make crafting more useful more quickly, I propose to drop the current unlocking mechanic alltogether and that the crafting components should instead be made available en masse based on crafting skill - say, if your skill is under 20, you get all access to all tier I components, at 40 you get all tier 2 and so on. This would allow you actually experiment and have fun with the crafting system early on.
Second, I would simplify the categories, and abolish separate crafting categories for one-handed and two-handed swords and axes, where the choice of handle would determine one- or two-handed use. Maybe also for pole arms, might be less clear cut though.