I don't think it makes very much sense and would be complicated. Like, if I have a candle, why isn't the candle just in my bag?
It could be like, *open inventory, select mask, put on.
Walk down the street, scare little children, take their candy and run away. But if you didn't have the mask, then you would just get caught after.
I personally just don't like text games, either. Since it's more of one of those "choose your destiny!" Alone in the Dark books I read in grade 3, and less of an actual game.
I would say work more on the whole equipment thing you started, then you can do old-school neopet-style battles which were broken and made no sense.