I think it's not so much that some loot isn't wanted it's more a case of everyone wants the same bits first.

The loot could be improved though. Purely because of how often you're sitting there waiting till the last second for it to drop because person a won't roll on on the crank until the spring has been won by someone . Person b won't roll on the spring until someone's won the crank. And as such everyone's stuck waiting the full 5 minutes because they all wait for the items they don't want to drop so they have less people to roll against on he item they do want.