Magic Find does it actually work
As I’ve seen it explained, it’s just a multiplier that used to modify existing drop rates.
For example, you have a 200% MF score. You’re farming mobs which have a 1% drop rate for Yellow items and a 10% drop rate for Green items. After your MF adjustments, you’d be looking at a 3% drop rate for Yellow and a 30% drop rate for Green. This means that +MF is great from item categories which already have decent drop rates, but really won’t make a noticeable amount of difference for item categories which have very low drop rates.
That would explain why on rewards and chests i get massive loot but drops not so much.