To be fair, there is still a reward when farming. If you are a lower level, you are getting exp. If you aren't low enough to be getting exp, you are still getting gold and drops that can be turned into gold, not to mention all the rings that are sure to drop. There are still rewards - just not the rewards you are looking for.
Quite honestly, I sincerely doubt that VR designed those drops to be farmed for. Like the various weapons that were released at the same time, they seem to be more of a super rare prize drop that lucky people might get, (though obviously much rarer than the weapons). Maybe that's VR's fault for making the drops so good and rare - it had the unintentional side effect of making players want to farm for them, and get frustrated by the rarity level. Now VR is stuck in the awkward position where they can't really increase the drop rates and/or decrease the stats, because it would devalue the few that have already dropped.
I think that in the end it's just an unfortunate mistake on Design's part - perhaps not realizing just how insanely dedicated the player base was, where some players would spend hundreds of hours farming for a single uber-rare piece of gear.
The gold you get farming those is pretty much irrelevant ngl, ive probably farmed around 15h myself, which isnt anywhere near as much as many, and i probably got a total of 40-50k including drops.its just not worth anything. Begging in castle is probably more profitable.
I agree that it puts them in a sticky situation, exactly as you said. I think it would be cool if they changed it in a way that made it somewhat more interesting, for example a one week opening window every month, where the boss can spawn anywhere in alchemical, not just in that corner.
I just feel like it cant really stay the way it is. It should at least not spawn on rotation, it should replace the mob standing there when it spawns so people dont have to keep killing mobs over and over to find it, theyll just run by one day and get lucky.