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But it does drop other stuff, like its mask and trophy.

But they aren't worth

Well, the manipulator is worth, since you basically get access to the final tiers of gear through it. And if you think about it, the Cultist is simply using the powers of the Lunar event, he isn't using any type of actual weapons, so in my opinion, it wouldn't make sense for him to drop weapons. Plus the fact you can't grind him that fast since the lunar event starts when they die.