No, not from my experience. The loot drops appear to be random, and not impacted by your choice of skills or destiny. I have no points in Might, yet I find heavy armor, swords, and hammers with alarming regularity.
I ran a test with my "current" destiny, which is Finesse/Sorcery, and before filling my inventory I found:
- 9 Sorcery items
- 11 Might items
- 14 Finesse items
(along with other assorted junk)
I then changed my Destiny to the default level 1 Might destiny, and went forth and looted again, and I came away with:
- 7 Sorcery items
- 10 Might items
- 8 Finesse items
If destiny played a significant role in determining loot drops, I'd expect to see a much larger bias towards Sorcery/Finesse in the first category, and Might in the second. As it was, I found roughly similar amounts of items from each category, regardless of my destiny. This is not an exhaustive test, and probably a much larger sample size could be taken, but I think this is at least somewhat representative of a random loot drop system.
Do note that even if you have a weapon or piece of armor that you can't use due to your skill choices, you can still break it down at a blacksmith workbench to recover components you can use to build armor or weapons for your chosen skill tree. Not all components will be reusable in other items, but more often than not you'll find something you can use.
Also, since you can respec at any time, if you find something overpowered that's not for your chosen class, you can stick it in your stash in case you decide to re-roll later.