Just remember the lengths you've got to go to, to find it though. From what I understand (May need corrections) you've got to find it beneath the lava, then smelt it for scraps, then add gold to it just to get a single ingot before you can combine it with your diamond gear.
Whilst I have no problem with it myself, I can see it becoming the next ultimate flex.
A Netherite sword is only as strong as a diamond sword prior to 1.9; 8 attack damage (the game says +7 but this was added to your unarmed damage) and armor only has slightly more durability and 3 toughness instead of 2 for diamond, making it still far weaker than pre-1.9 diamond armor at higher levels of damage (a constant 80% damage reduction regardless of damage taken, enabling you to survive a point-blank creeper explosion even on Hard vs about half of armor points being penetrated by a point-blank creeper explosion on Normal, which is instant death), plus knockback resistance.
For comparison, my own version adds amethyst armor and tools, which have 3 times the durability of diamond (which in turn has 1500 durability for armor, the same ratio as an iron chestplate vs iron tools, and the same for all pieces) and the same stats as vanilla diamond, except that player armor only reduces damage by 3.3% per point (mob armor is still 4%, and mobs can have up to 22 armor points/88% damage reduction; likewise, diamond is 18 armor points/60% damage reduction (the same as iron in vanilla) on players but 20 armor points/80% on mobs. This contrasts with Mojang's changes, which nerfed both mob and player armor, only partially offset by the reduction in sword/Sharpness damage).
Also, Mending makes rarity irrelevant, not like you need to constantly mine to get more materials to repair or make new items (TMCW's amethyst is so rare when caving that I barely accumulate a surplus despite a playstyle entirely centered around mining - emerald is more common in caves despite being found in only a few biomes (it is most common below cave lava level, with half the density of diamond on layer 1, and it can also be found in chests; I branch-mine to get the resources I need early on, with caving only being done for fun, that said, I don't use Fortune while caving); of course, it generates in the Overworld; if I played in 1.16+ I'd barely spend much more time in the Nether than I currently do, which is mostly to get XP for enchanting (taking around 6-12 hours, less for vanilla as I don't need as much XP), so I may as well just branch-mine deep down for both quartz and Netherite; Fire Resistance potions make the issue of lava irrelevant).