My lock hit 90 last week. Today I won 14 pieces of loot from lfr. In one day. Now my ilevel is 480 and tomorrow I'm going to run the new lfr and buy a 522 ring. And they say there are no catch ups.
Yeah, that's pretty ridiculous. Consider buying lottery tickets.
I, on the other hand, went 6 weeks without a single drop from LFR, including this week after the drop rate buff. Both of our cases are extreme, and should not be the basis for balancing catch up mechanics, but it's definitely going to take a very long time because the system is purely based on luck now.