Some equipment will be level locked, and as you can imagine, level 1 equipment ain't exactly great. While skill and preparation can help you defeat far stronger opponents, there isn't any items that can make up for those levels. 

And understand that most weapons aren't going to be magical or even uniquely masterwork. Think of it somewhat like Dark Souls weapons: The powerful ones you get from bosses and even those require some level investment. Beyond that everyone is using fairly mundane weapons such as Longswords, Falchions, Spears, etc. Some may be enchanted by Artificers (And those are temporary enchantments) or uniquely designed, but otherwise provide no statistical advantages.