How about being able to pick up an extra backpack for your teammates

Good idea.

I would like to be able to carry a single equipment item (or weapon) for a friend for those hectic drops or spread-out ring dashes. 

Great idea!

I believe it should be made easier to pick up stuff for teammates. If you already have a barrel stabilizer and want to pick up a worse one - you just can't.

Carrying another backpack is interesting though. But what about shields and helmets?

Hmmmm

@DYSPROssiumWhat do you mean? Couldn’t just hold down on a different button to pick up the barrel stabilizer? On console, I think you hold triangle or Y.