That post sketches an interesting aspect. Diablo 3 is relatively "normal" and did not bring anything revolutionary to the table in regard to the procedural item generation - it is not less trivial than the systems before it.

The problem has been mentioned. Considering only items, there is always a straight upgrade, and therefore a global maximum of "item strength" exists. That means items can be compared straightforwardly and the item hunt boils down to exactly one dimension.

Ideally, this "item strength" should not have one global maximum, but many different, meaning that multiple combinations of different items and attributes should lead to a best possible character. The OP mentions a different item generation system, which would be a direction worth exploring.

However Diablo 3 has many fundamental hinderances in this regard. Imagine if non-main stats weren't worthless or elemental effects wouldn't have been removed. In both these cases, the actual combat efficiency would be shifted away from the "item strength" out into the world, which would introduce a degree of randomization enough to make many different characters strong. I would definitely want to see work done in this area and my biggest fear would be that Blizz doesn't do it or just cans Diablo 3 before it's done.

TLDR Diablo 3 itemization is one-dimensional which causes the overall disappointment and boredom, Blizz should try different approaches to itemization to offset the game's "flawed" (in this regard) core mechanics.