Tri quality could possible work, but they have implemented it a way too early.
Right now, the game needs to resolve the basic issues first, then go on something as complex as the tri quality. For now it feels like the devs do not have enough time to work on the tri quality, so it would have some actual meaning.
For instance: they could make the pick axes depend on the quality. Substance for the additional strength, vitality for stamina drain and essence for the speed.
+ they need to return the resources generation to back what it was in past worlds (but instead of 10 80 10, make it something like 30 80 30, so the max difference between the lowest q. attribute with the highest would be 50). That would make the tri-quality system so much more meaningful. Right now we have the situation, where everything depends on the average quality. So the tri quality is rather annoying, than meaningful.