No they don't. You actually contradict yourself in the same sentence.
Loot is hard-capped and 7 out of 10 times you don't get loot. Also it's not possible to farm 90 duamonds in 1 hour even with 100% drop rate and 100% activity from the whole elyos faction. At best you can get 30~ which in itself is unreal because reality is only a small percentage of the present elyos get to loot.
Oh and also it's not contribution based, it doesn't matter how much damage you deal. If you get rolled onto the loot table by RNG when the boss dies you loot it. If you don't get into the loot table due to bad hidden RNG roll you won't loot it due to overcapping it's loot table.
Your league dps doesn't matter, your alliance and group dps doesn't matter.
by getting between 20 to 27 bags an hour myself without a 100% rate, Mika estimate seems pretty possible to me. now at noon i got 21 by missing about 8 which is pretty close to 90 duamonds (if i had a 100% rate).