No, that's just the classic experience.
If you cannot grind that much then do not bother with Miragent, because that math is the actual rate from 2009/2010.
People complain about drop rates, but back in the day a Bakarma's Spear took 6 months to farm. A Tahabata weapon was something less than 5 people had on each server by the time 2.0 came out, a year after launch. Gold drops were so rare in the open world that when they dropped, it was announced to the entire zone. Extendable weapons from Trioran/Adma were very rare.
I have screenshots of old enchantment stone prices. The current stone prices are the same prices they were back then, without a candy inflated economy. Rarely anyone had +10 level 50 gear. When +15 came out in 1.9, it was impossible for any gear above level 40. And I mean impossible, because there weren't enough stones on the server for it. It was only until 2.0 that people +15'd any level 50 gear.
Gold drops were so rare that the rarity of Anuhart's was comparable Miragent to the point that Miragent was the logical choice for PvE gear progression, despite the huge investment.
There was no coin gear besides the platinum coin gear, and back in the day the weapon was 2,000 platinum coins, the armor set another 2,000. There was no 400 platinum coin option.
The Classic we are playing right now is full of handouts and juiced up rates. The candies, Daeva Pass are more on top of the boosted drops and additional quests. The one thing that has been kept relatively the same is the Miragent/Fenris quest.