They are, you're correct. I don't think it would work in every game either. Inventory management can be a powerful tension and choice device and getting rid of that isn't always a good thing.
Extreme inventory QOL often just turbo charges hoarding behavior and makes individual items feel meaningless. Just pop it in the bag, who cares, it's all weightless anyway!
Don't get me wrong, sometimes easy inventory is great, but I think inventory management gets a worse response than it deserves a lot these days.
/rant
Great points! I think you're spot on that a streamlined RPG would benefit from easy inventory management. I'll have to learn more about the armor and weapon system you talk about cause I'm curious to hear how it works.