No.
We recently did a character snake draft, where we were "picking" feats, ASIs, abilities, and magic items. Magic items ... they just don't compare. Feats are permanent. You can't take them away. You don't have to worry about finding a "better" feat that will obsolete yours.
In addition, players will almost always psychologically prefer inherent boosts to power (things the characters will always be able to do) to things that are external (magic items).
Now, if you really load the scale, and are talking about artifact-level items, of course the calculus changes. But as a general rule, no.