I'd say 1 DECENT + item drops every 1-3 climbs
I understand people may interpret "decent+" differently but that's just my 2 cent perspective

Yes drop rate is pretty lame here.
Most of the crazy items you're thinking about dropped a long time ago when it was easier.
Yes they still drop - not too long ago there were 2x 200ee items that dropped in the same week.
Also, I guess you can keep in mind that EPs, welling and certain objectives are more rewarding overall than regular climbing. I know I get usually a 50 + fg item almost every time I well ~70 + items