Counter-point: why should the Spectator CARRY loot around? At least aside from trophies/body parts. Is it supposed to have pockets?

It does "have loot", by the way. There's almost 1000 golds lying around on the ground exactly where you fight him.

Party control in Baldur's Gate 3 is a complete mess that begs to be addressed. SAY NO TO THE TOILET CHAIN