There were problems e with that beyond the picture oofta referenced. Specifically the fact that it put needless work on the GM's plate to track the armor for every creature in combat while varying it up enough to not just make certain damage types best. 3.x did a good job of avoiding that while preserving the function with useful depth for the GM to leverage with the way it handled flat DR & weapon material types.Only think i've ever seen like that , was the damage types tables in 1st or 2nd edition. If you were stabbing a guy in chain mail you wanted piercing, if you were beating a guy in plate mail you wanted bludgeoning, ( i think). etc it had the affect you are going for but was more fiddly. but if you played that kind of game a fighter might carry multiple weapons or suits of armor. It did have the benefit of making special weapons useful instead of everyone going for the one with the biggest damage. I seem to recall weapons speed being a thing as well. Big two handed weapons hurt you in initiative. It's why all d&D rogues used daggers or darts. They were faster you got to attack first.
Related to that though is the fact that being proficient in all weapon types doesn't matter in 5e because nobody actually feels limited due to oversimplification of weapons themselves* & the shift to almost everyone who might actually use a weapon tending to be proficient with "all martial all simple" or "all weapons"
*does this weapon allow my primary stat? [yes/no]. If yes, is there one that also allows it but has a larger damage die? [if no then this is the weapon to use. If yes then use that instead] without subjective elements like crit range & crit multiplier or even the 4e weapon tags it makes weapon choice an entirely objective thing with a right & wrong answer.