No. I’m going to assume, based on this question, that you’re not a Monster Hunter player. The fights and loot in these games are structured differently and serve different purposes.
Diablo-like ARPGs are a slot machine, with randomized rewards to maximize the Skinner-box dopamine dripfeed. Build up stats, unlock abilities, cycle your cooldowns to mulch monsters, collect loot, repeat. The typical ARPG boss is just a roadblock that delays the rewards. ARPG player skill is more about game knowledge than action. The breadth of abilities and loot variety contribute to depth of character building and provide longevity.
Monster Hunter is a dancing game. Learn the monster’s moves (and yours), do the dance, perfect it and repeat until you can craft what you need to move on. The first time you fight any proper monster you won’t be well prepared and it’s an ordeal just to survive and complete it (three deaths on your team and you fail the mission and lose what you collected). You may unlock a new area or mission tier or crafting options, but the next challenge will be even harder. So you should craft a dedicated setup, which in turn requires farming other fights, and so on.
In MH the big monsters and different weapon types are the real content, because every combination is a new dance to learn. Your movesets and abilities are mostly fixed, with very high skill ceilings (and no animation-canceling). There is equipment progression, some rare drops, passive armor set skills and specialized builds, but mastering the combat is its own reward. You could remove the loot, crafting, and small monsters entirely and still be left with an excellent action game.