The loot system is one of the three things that I am not fond in the game, alongside lack of reflection or 3rd person mode and fetch quests (seriously, after 1 hour, who read those tons of shards/computer files??).
Looting like crazy is really not fun (I feel like I spend half my playtime in the inventory menu). Armor value on clothes is ridiculous and completely destroy the style over substance core of cyberpunk. Same of the weapons.
And the food, come one, V is grabing food on the ground during missions ??? what kind of person is he?? Food should be bought at one of the many restaurants already available, with either buying it like we do now, or the option to eat on the spot, the animations being already there (I can think of at least 2 instances where I have seen V eating in an aniumated fashion, the dev work is already in the game).
From the press releases I was expecting a system where you gain in power by being more accurate and quicker with your guns, cars etc... (through investment in some skill trees), and in some cases, that is already there.
I am not advocating that every guns by themselves should have the same power, but that improvement would come from modifying guns or obtaining rare ones, and not changing every half hour your entire kit because something better has spawned again.
So yeah, to me the loot system should be nearly inexistent, with just a few special weapons/armors etc... being droped, as well as money where it makes sense (in a safe for example). The player would have to use his payday to buy stuff with merchands and scrappers (for parts for crafting). But the idea that V is some kind of pack mule is not immersive, and start to seriously smell like 90s mmorpg.
Same thing for the cars, why the hell is this idea of collecting them pushed? do you know many heroes in movies or other video games who have all the cars?? Cars should be much more expensive, re-sellable (at loss) and have a maintenance cost if your damage them, or even that you can repair them yourself with an efficiency depending or your skill (so that they feel more important for you, and make you feel that yeah, you are a mecanist).
Same for the housing, I still can not get why there aren't an appartment or home in every sectors to be bought by the player at high cost (and once more resellable at loss). I have a hard time to believe that adding about 10 appartments (that you can enter after pressing F "Buy" on the door, like for cars) it would have been much effort compared to designing the entire freaking city. I would get the argument that they didn't have the time for that considering that we can all see the release state of the game, but we have known for a long time that they hadn't added more appartments, the decision was unrelated to the time issue...
EDIT: Was forgetting about the issue of armor, those should come from modifications, either on the clothe, or cybernetic, but not because your common bra that you bought at the store at 100 armor value