Crafting in The Elder Scrolls Online won't just be some tacked on feature to do when you're bored in the game. As explained by the developers in the latest "Ask Us Anything," crafting, more often than not, will result in gear better than that found in dungeons or as rewards for PvP.
"Crafted gear of the same level and same quality as gear found in the world is almost always better," ZeniMax Online Studios said. "For instance, if you find a level 22 sword of fine quality, but your friend crafts a level 22 sword of fine quality, the damage done by the crafted sword is going to be slightly better."
Some gear found in the world will have unique enchantments or set bonuses that crafters can't replication; however, "a crafter still might be able to take that dropped item and make it even better while retaining the unique enchantment."
The Elder Scrolls Online will launch for PC on April 4, 2014. The Xbox One and PS4 versions will arrive sometime in June 2014 as to ensure stable servers for a smooth launch.