BL Chest - Mad King Dye Kit
Unfortunately, that’s just how the dye packs work. The text on them says “Contains one random armor dye from a pool of 25 colors that includes six exclusive colors.”
I have reread the item on the wiki and it also agrees with what you are saying. It is unfortunate that this kind of stuff is part of this game.
The items in these BL Chests are incredible garbage. I have not had anything bad to say about GW2 until now and I have been around since GW1 and have played GW2 since Beta day 1.
It is sad to say that these “polished kitten ” items have opened my eyes to see how much time I waste on this game.
The keys aren’t all that rare. You can farm them once per week. Some of us that do so regularly have many nice things from BL Chests.
Though, since they are completely optional, one can choose to ignore them entirely.
For a guaranteed Black Lion Dye, depend only (at this time) on 3rd Birthday Gifts and HoT bonus Shared Inventory slots.
Good luck.
The BL chests and the limited-edition dye packs are for people who enjoy the thrill of anticipating what loot they might get. They are designed like lottos — most of the rewards are minor and hardly worth your time to reclaim; a few are fun or valuable; and only a tiny number are big and worth letting other people know about.
If you want the tradeable items that BL chests or limited-edition dye packs drop, you can buy them on the TP for far, far less than the cost (in time or money) of obtaining them via gem store purchases.
tl;dr they aren’t designed to be rewarding in and of themselves; they are set up like lotto rewards