This is a difficult thing to design. Foremost, I want to build a game that I personally enjoy, and procedurally generated items or blueprints were never something I enjoyed.
It kinda takes away the immersion and the game suddenly turns into an Excel table simulator. However, this doesn't mean I cannot implement some kind of procedural generation. I have this idea of being able to have sockets on your tools. In these sockets, you can put special gems or other things that give your tool special effects.
For example, imagine I can craft a pickaxe with special powers. Special powers could be "explosiveness" or "earthquake" or "fire". However, those effects by themselves could be RNG to some extend. In order to add these special effects, you'd need to find the items in the world to create those powerful gems. This is all just theoretical and might not what I am actually gonna build, but you get the idea.
In a nutshell, I really wanna avoid having "too many" tools/equipment but rather focusing on a few that the player can customize as much as they like. And they can only customize them by exploring the world/cave.