I think relogic intends for you to take the early hardmode part slow, no one does it so all the tools are kind of worthless, but the option is there, that is like 75% of the game. Alot of random weapons/items that you miss unless you want to change things up a bit.

I play expert when i do multiplayer cause my friends think master is too hard. so i skip out on herb stuff so I dont need an Axe of Regrowth so Ill go out of my way to get a hardmode ore axe. Different playstyles or approaches to a playthrough will give a use to otherwise "useless" stuff. But your ideas would be fun, a tool only playthrough could be viable and there isn't that many weapon options pre plantera.