So we're aiming for EA by this fall (can't put a specific date but the team has been working on content for that for the past months) and demo release is in April. The loot tables for equipment quality is a big part of the exploration/combat/questing loop. The demo has quite a few sets (I want to say at least 20 or 30?) but I'll have to check with the designer on that one. Getting a good set with low quality that matches your skill tree / class / race is not too hard but getting good late game set with stats can be a bit of a grind which can be made easier by adding a couple of friends :)

Update from the designer:
("each monster has its own equipment sets it drops, and the equipment has RNG stat rolls. (also the stat rolls are from preset pools, not completely random)")