Paul Sage confirmed much of this in his recent talk about crafting, but was criminally ambiguous on the main points and it's not clear to me what kind of skill will be required to "improve" loot drops that have unique, uncraftable traits. Paul also talks at length about the deep levels of commitment required of crafters who want to make the best stuff crafters can make, but he neglects to point out why anyone would do this if anyone without any skill is able to improve the best gear in the game that is dropped. Why make that commitment, only to learn that no one is interested in your final product?
On the other hand, it really isn't feasible to allow crafters to flat out make the best gear in the game because that removes most incentive to play endgame content and allows anyone to simply buy the best gear, which is sub optimal, too. This is the crux of the problem and is always a problem with MMOs and crafting.
I think a workable solution is to keep the basic idea in place: the best loot drops in endgame content but can be improved by crafters. But require that the only crafters who can do this are the ones who have dedicated themselves to the kind of high end skills commensurate with high end adventuring. That kind of synergy would be acceptable to me as a crafter and as an adventurer.