Are you kidding me?! Crafted gear some of the best! Wintertusk crafting is just one step down from waterworks gear, some Avalon crafted gear is better than waterworks gear, Azteca crafted gear is better than avalon's, Tartarus drops are better than azteca crafting in some aspects, and khrysalis crafting is a little better than aztecas. No-auction drops are better at the time, of course, but waterworks gear goes stale quick, just like Tartarus gear will eventually.
Most of the gear in the game is not very good. That is true for dropped, crafted, or bought items. So you need to look around, compare stats, and decide what you need. There are some outstanding and unique crafted things. You have to hunt for the best ones. Of course more variety would be nice.