Ill-Gotten Goods bag have a just god awful drop rate.
I mean, BAD.
So here is the just of it.... I spend 7 hours farming a negative bounty (Currently 1,000,000+) Because I am told that the drop rate will improve.
For the first 3 hours I farmed people (Pickpocketing + Blade or Woe), I received 1 Bag from my first kill, and 1 bad from a daily.
Several hours later of farming stolen good containers, I received 1 more bag from a Thief Trove.
4+ hours of farming NPCs and killing 1000s by pick pocket, blade of woe AND mass killing, netted me 5 bags (about)
These bag contained literally NOTHING other then junk... Nor did the other 4 or 5 I received after words.
It was disappointing to say, that my time was used to to do this.
Now, Im sure this is "As intended", and if so, there doesn't seem to be a reason to do this event. Considering the only way to ensure that you get a Bag is by completing 2 dailies, one of which I despise, it will be a hard pass.
In short.. Drop rate poop... Drops give poop.