One they cost too much, Two they are usually containing garbage, such as 2 King’s Feast or a few gold or worse. They should only cost 60 FC as they are. Even then you make me want to uninstall for filling them with such garbage and calling it Rare. Yes, this is a complaint, but you should want better customer relations.
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Then don’t buy them Lol
They are a waste of money, but Funcom is a business and businesses sell things to make money. It would be worth it if the money went towards content for this game, but that’s a different story.
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They can drop other things beside King Feasts as well, such as Orange Items. 
I bought 3 of them because I wanted the ring. I got some crappy potions instead. The boxes are complete money grab trash and repulsive.
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Chance of the ring I would estimate 1:100 so from 3 chest it would be like you lucker of the year. You would need to buy several 100 on average.
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add how much money that would take?
Its a lottery m8. If you care the money and desperatly want JUST this ring you usually will end up dissapointed. You can calculate what 100 chests cost in your country. But again its luck based, I have seen on 13 toons only once the pve ring and it was when i did not go explicitly for it 
and the 1:100 or so are for legendary tier. So even if you roll legendary its 1:3 thats a ring since there are 3 rewards with legendary quality. If you are excited on ANY legendary roll changes you get pleased are better…
Again remember luck is a bit.ch you mostly have it when you dont care it 
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Always been disappointed with the loot, but it is like playing the lotto , only the casino or FUNCOM wins!