Something that's a way more efficient and broken way to make money is through selling slaves. Specifically, succubi and incubi. Their sell value is extremely high, especially if you max out their obedience. I haven't looked that deep into slave stats, but that appears to be the ruling factor on the surface. Usually, incubi/succubi slaves sell a little over 200k when they are subservient. A slave collar only costs 625 a piece, and if you stock up and farm in very dangerous dark alleyways, it's easy to get a whole gaggle of demon slaves. Also, don't forget to take the money out of their inventory. Heck, you could probably just buy some collars or jewelry dirt cheap and give them the enslave enchantment yourself.
It's fun to be able to make money so easily when in the early stages, but when the game is complete a lot of balancing needs to be done. Although, it is up for debate since a lot of us are going through the story line as the game is being worked on, so a lot of us might not even replay it when it is balance. But, weapon wise, it's just no fun and not tactical to be able to kill everything with a few swings. What is the fun of investing in spells and abilities if there is no point in using them? I might take this to the discord for some discussion, but you are definitely right. When I made my first character, it was a little difficult to win fights, but now it's just so easy it just seems like a grind. It got a little difficult when challenging multiple enemies at once, but when you have an elemental with you, it usually takes all of the damage.