I suspect most people would not consider buying a $5 loot box if there was a 95% chance of only getting duplicate items, or a 0.0002% chance of getting the item they're hoping for.
Developers will probably increase the drop rates for things so that people will continue to buy their crates.
Developers will probably increase the drop rates for things so that people will continue to buy their crates.
I agree it's still gambling but this is a step.