This. With a high Lucky Charm stat, nearly every container contains at least two Rare+ items. By the time I finished Bloodmoon Island, more than half of my inventory was just unidentified items. Lucky Charm 6+ definitely needs to be nerfed.
Whereas someone like me who doesn't have any points into Lucky Charm is impoverished in terms of loot and is at level 11 wearing gear several levels lower because I haven't found much decent stuff, and can't afford to replace much of it each level.