It might be just one loop bag that drops and whoever gets it, gets it. That's just the way it is as it should be unless you're fighting multiple monsters of the same.
Many other games use the same rule and I like it even if I don't get what I want.
Other games give the same loop to everyone and eventually that kills the gameplay. Remember borderlands?
If I am not mistaken they did the same thing at first where the items were dropped and you picked up what you picked up and I think after that since people were hardcore farming and would steal kill they made it where everyone gets it into their inventory automatically and eventually the play base died. Everybody was getting what they want and then they moved on. Instead of becoming skilled enough to deal with The Intruders and the boss they just whined about it.
I wasn't one of the whiners I was one that constantly tried anyway against higher level people with little success. However when I did have success the award was great and when I played with that person again they left me alone because they knew I figured out something. Robert decades ago.