Last Epoch has a ton of loot to find and each item really does have different stats. You will find everything from weapons to armor and accessories to crafting material. Just today after many hours of playing and streaming the game, I finally found my first unique armor piece. There was an amazing beam of light shining down it.
The only downside of the loot system is the colors attached to them. As you can see above, all of the crafting materials look like rare items. The unique item that dropped for me was white. Other than that, there is a ton of loot to be found.