Yea, however it was programmed in D3 was far better. Zaven even mentioned people not using the armory in D4 as much. Well obviously, it’s half baked and missing half of the functionality the D3 armory had. It just feels clunky all around.
Now granted D3 didn’t have the ability to store your gear in the armory itself, but it definitely swapped things in and out for you, including the normal gems, legendary gems, and I want to say even the paragon. If you were wearing a legendary gem required for the loadout you were switching to, it would take that into account and just swap it. No extra steps involved.