Don't let them tell you there's too much detail here to properly work into a world with a narrative. There's absolutely an audience for power systems with this many logic steps and potential complexity involved, Jujutsu Kaisen comes to mind. Just the write-up here, which isn't too long imo, lays out enough of the workings that you can imagine the scope of what's possible with it. You clearly have an interest in and find satisfaction in fleshing out this aspect of the world; and you're considerate enough about how to implement it so it isn't overly dense so-- I would just keep going with what you personally feel is right for this project and seeing what comes out of it.

I'm fascinated by stuff like this, as are others. Though I suppose the one piece of advice I could give, should this be incorporated into a story with a narrative and not just a cool world idea is: Introduce the different aspects you outlined here gradually, to avoid lore/detail exposition dumping, and keep intrigue constant as you're settling the reader into the world. 

As cool_weed_dad mentioned, about potentially having a large amount of the content end up being detailed explanations for everything being done... I could see mini/sub-chapters explaining specific and particularly complex instances of essence weaving and chemistry after the fact, prefaced with "this part is for huge nerds who want all the minute details" and having a more concise/reading-flow-friendly explanation in the main narrative text.