I am pretty sure that they increased the drop rate to make up for the fact it can't be farmed anymore, atleast I hope they did. For those of you who are wondering why this change was made i'll pass on a story I heard concerning holiday farming.
A tank got a group together to farming the Horseman's mount. They all got there and he set up the order of the summonings. Everything went as normal but after 4 summons there was no mount. At this point the tank drops. This type of ninja is the reason they changed to the bag system. Keeps everything even and you don't have to deal with idiots conning you.