So... here is my question

When you defeat a boss, a treasure chest will appear, and if you receive an item from one of these treasure chests, you will not be able to “Need” or “Greed” again until the weekly reset. (Allagan tomestones of mythology cap reset timing)

Does this mean that a static group or FC going in as a group of 8 can farm this content by just passing to the appropriate person and waiting for the timer to run out or will loot just fall to the ground?