Yes but in 2017 you don't have to deliver arbitrary materials to obscure people for them to provide you an object with random properties. You go into a store and buy the stuff.
That said, I would be all for an item reset that eradicates engineers for good and reinstates the pre-2.1 status quo where you just bought your gear with credits. But as it stands there is no reason to assume engineers will go away, and thus any near gear that replaces an existing item means you also have to repeat the engineering on that new item.
Only this time, you actually have to gather the correct mats for your 2000 re-rolls of G5 whatever.
I think there's a whole lot of Chicken Little-ing going on here.
But speculate away, I'll grab a bag of kernels and heat up the oil.