I'm dead set against this for two reasons;
A.) "Flying", "Armor".. You're describing, essentially, traits, not moodlets (which literally relate to moods [happy, sad, etc])
B.) Moodlets are an abomination which were considered necessary because at the height of sims 2 there were no less than seven bars, five meters, and god knows how many tabbed menus, stats, aspirations and goals. It was difficult for some people to manage.
You can simplify lots of things, but unit creation should remain at least as complex as it is.
If you simplify it any more than it's already been simplified, you're not really making units at all, you're just naming various templates. You're actually still doing that, but there would be fewer combinations with a moodlet driven equipment base. You couldnt, for example, just give your guards all leather armor, except their boots, which are iron, and call them the 'Curb Stompers', because what would the moodlet for that be?
Is every piece of equipment going to have it's own moodlet? Isnt that going to clog the ui?
etc
yeah, not fond of the idea
not fond of moodlets either
whatever you want to call them
edit: clearer