I think to a degree you're going to have two schools of thought about what "A good economy" looks like.
I remember when I was playing through Diablo 2 (which at the time was the gold standard of ARPGs) I'd spend days upon days of grinding (Nightmare Meph runs IIRC) in order to get my hands on a Buriza-Do Kyanon (for those who know, yes, one of my chars was a Burizazon). That had an economy which meant that the rarest items - those which would actually open up whole new play-styles - were indeed incredibly rare and required extreme grinding to acquire. Also, the only items which were certain to appear at specific points in the game were quest items. Literally everything else was pure RNG.
Since 1999, the popular opinion on good loot economies has changed somewhat and now what Diablo 2 did would be frowned-upon by many. On the plus side, games like CP77 are less grind-y because all of the really important loot is fixed to specific locations & quests, it never turns up randomly. That means that it's pretty easy to get your hands on the Best In Slot equipment for any given level/build because all you need do is go for the right quests to grab it. Of course in an Open World game you do the quests in whatever order you want (except maybe for difficulty scaling). A side-effect of that is that once you've got that premium equipment, literally everything else you find is trash in comparison.
That's what leads to behaviours like my bulk-dismantling of everything I find without even reading the stats. As an example, you can pick up Lizzie pretty early in the game - very early if you stick to main story and don't go side-questing like I do. Let's assume for a moment that you don't want to use a silencer (Lizzie's only notable limitation). Once you're holding Lizzie, no other pistol you see from random drop is going to be worth looking at. May as well just smash everything else (non-iconic at least) up for parts.
A game that (IMO) does loot well: Grim Dawn
I think that Grim Dawn (including its expansions) struck a good balance there. It has a crafting system which allows you to get your hands on most of the items that could drop as random loot (and quite a few that can't). So, if you're looking for something in particular, most of the time you don't need to just grind for "that one run which gets the drop you needed". You can just keep playing the game and progressing and you'll find plenty of components and recipes as you play. Then, once you've got enough, you can transmute those into the thing you needed.
It's also got a "reputation" system with which you can unlock some powerful unique gear that may be purchased directly from vendors (once you achieve the required reputation). Finally there are a few items which can only drop from the RNG, but (if you have the Forgotten Gods expansion) you can play through the Shattered Realm which are essentially condensed/pure grinding runs. In SR runs there are no loot drops at all, but after you have played through a realms ("shards" in game terminology), you can exit and "cash in" to claim a bundle of mega-chests full of high-value rewards, better than even primary boss-fights in the main game.
Another thing it has is a "loot filter" implemented in the game options. So you can make the game just stop showing loot items that you're not interested in. That way your character can focus on only picking up the highest-value/most important stuff. Additionally anything that "you always want to be picking up" (money, components, consumables) can be set to auto-pickup.