I don't know ... maybe someone of the Larian Team can say more about this issue?
First time I played a Survivor (female) and I was thinking playing a archer (Survivor) give me more "bows" as a loot, but now I play a warrior, I have also "bows" by loot. Less bows, but also bows.
Maybe it is hardcoded depending on class? Yes, can be so, because I always start killing Orcs around Aleroth with using Meteorestrike ! But NO significant difference between the loot of my Survivor or Warrior by using Meteorestrike !
About the Damage Values of weapons:
IT is right: if i use Splitting Arrows the damage value isn't important !
BUT: finding a Sword that have MORE damage value AND have some handy extra's like Frost or Poison Damage for example, then the damage value make a difference !
And as long as I can use the spell Freeze, I can use close combat; but I must be carefully, because of the risk my hero can be suddenly surrounded by TOOO many Orcs

... very dangerous !!!
I didn't find it important how much "loot" enemies are dropping ! I take it like it comes (loot, quests, my lucky or unlucky moments) and I'm happy now to choose a warrior type.

For example: finding the "Shoes of the Scorpion": they were simply nothing of value for my warrior! But the "Amulet of Glory" I have luck with this equipment : Charmquality 5 + 20 to Vitality + 2 to Defense + 5 to Res. Spirit !
Note :
I don't want to use a Mage playing DD on hardcore.
He has much more Mana, but less Vitality ! In close combat the Mage can't survive easely and in some caves close combat is very close ! I don't risk this on hardcore ... !
And IF my mamapool goes empty I must only take a potion, but if my Health-bar goes empty ... DEATH and Game Over!