This is actually why the first supplement of the game (OD&D) got rid of it. Players were using iron spikes for their weapons, since it was the cheapest option. Buying a real weapon was just a waste of coin.
No.
.
"Because in CHAINMAIL different weapons have different numbers to kill.
And I thought it would be cool if different weapons in D&D had different effects.
Gary didn't like the idea, but I didn't give up, and ultimately he did.
That's right, variable weapon damage is included in D&D because a 17 year old kid thought it was a neat idea and harassed the writer until he gave in.
I (expletive) you not.” -Mike Monard
That’s right. You can blame an obnoxious teenager. Gygax later went back to standardized weapon damage in a post-D&D system, IIRC.