Loot is scarce here? You could have fooled me.
Besides, since I have yet to progress on his questline to see this stuff (Yeah, I've been spoiled on this, my bad for reading...) I'll ask out of curiosity: does he at least get some benefit from "eating" magic items? Or it's just a money sink for the player?
He only accepts some powerful artefacts ( some of the Blue items ). In other words the best gear you could get. Only found 3 items in the entire EA he would accept and there no benefits besides he being happy.