I did a bunch of it, just to test it out. I took me approx' 95minutes to do 212 runs.
The results are (for me uh) Materials drop at a 3,8% rate. and TP material drop at a 37,5% rate, that's a 1,4% total rate.
So yes, this is low as hell.
But if you have time, you can still do it.
And if you're interested, no sign of Luck Material for me, which would have been interesting.