Cavalary: It's not totally random, tends to generally have a rough overall quality, but the specific stats of an item or the items in a container are random, so can have that overall value split between smaller values in several traits or all poured into one, and those traits may fit the item and your character more or less or not at all.
rtcvb32: Hmmm just reminded of Bloodstained Ritual, you can take the randomizer and you can get a really good weapon/armor at the beginning which can make the game a lot easier very early on.
Not that it matters much.
That happens in other randomizers as well.
For instance, in the Dragon Warrior randomizer, if you get the Hurtmore spell early, you can kill enemies that are far stronger than you normally would be able to at your level, and level up quickly as a result, at least until you run out of MP. If you get Erdrick's Armor early, then you won't need to worry about healing that much, as you'll recover HP with every step, and poisonous swamps become non-threats.
In the Zelda: A Link to the Past randomizer, getting a decent weapon early makes a big difference. There's also the fact that you could gain dark world access early, but that also means you may be forced to go to the dark world early.
I believe the Final Fantasy randomizer can, if you get a lucky seed, makes spells like NUKE and LIF2 1st level spells.