About Terraria and Minecraft, which is the best about crafting is a matter of taste (2D/3D is also a question of taste).
However, compared to Minecraft, I vastly prefer Terraria for two things: content and action.
On the chapter of content, let's play a little game. Count and compare the number of recipes, weapons, enemies and bosses. On every topic and for sheer quantity, Terraria outweigh Minecraft by a factor between 10 and 100. The progression in Minecraft is long because things are hard to find; I never get to the ender world because ender pearls are just ridiculously rare and you need a ridiculous amount of them. The progression in Terraria is, IMO, much more fun because there is always a new thing to do (until the last stage, which is the winter event, IIRC): a new boss to beat, a new biome to explore, a new weapon/armor set to craft... In Minecraft, once you get diamond, you can't have anything better in term of power.
Also, Terraria plays like an action platformer. There is so many different weapons, armors, bonuses, ... players can specialize between fighter, archer and wizard, each with a tons of different styles. With Minecraft, you can get a sword, a bow and... that's it. Displacement is also very rich in Terraria: the first hook is an enormous step in exploration ability, and the first wings and the ability to fly is again an enormous step. I find there is no interesting action/fighting with Minecraft.
I realize I didn't talked about crafting, which is the core of the debate. To flush this topic, I see no difference in the pure crafting mechanic, unless Terraria has a builtin reminder of the recipes you can make (while you have the ingredients) and Minecraft doesn't. Difference is 2D/3D and action/no-action. As 2D/3D is a matter of taste, lack of action is for me too boring past some times playing. (Don't get me wrong: I played a lot on Minecraft, really more times than I can count, because 3D building is fun, but I had sooo much fun with Terraria.)
But this is not the core of what I wanted to say (sorry, I get to it a bit late).
Crafting and building is fin as long as:
- it's done well (Minecraft, Terraria, Don't Starve, ... have good crafting/building)
- there is not only this (Terraria has action, Don't Starve has survival, Minecraft has nothing)
What I wanted to say to Arcen... first I thrust you all for making awesome games, no doubt about this, but about this topic: don't make a game only about crafting and building. Please, don't be an empty-shell-Minecraft.
Remember this is an opinion; I would be glad to hear why you people disagree.