I still have some Black Steel Keys from Mordor when it was possible to get them from quests, and decided to open 10 lootboxes. The results were uninspiring, but maybe I just was unlucky. The primary useful thing I got was Embers of Enchantment. There were 6x250, 2x500, 1x1000, and 1x2000 for an average of 550 per lootbox.
There were 7 pieces of gear, all rare/purple item level 407, identical to what you get for 2000 embers from the barterer. The other 3 lootboxes had Dust-shrouded Adventurer's Essence Boxes, which contain Flickering Moonlit essences, the same ones that drop from mobs.
The gear is for your class, and is bound to character. Unfortunately, 6 of the 7 pieces of gear are defensive, with parry, evade, and resistance, so they won't do me any good. Although the other one is nominally offensive, the stat is fate, which is less useful than mastery or crit or finesse. They can be disenchanted for 200 embers each. The essence boxes can be disenchanted for 100 embers each. If you extract the essences, they cannot be disenchanted for embers nor malleable essences.
With a small sample, I don't know how lucky I was to get 2000 embers from one lootbox. One warning: be sure you have less than 8000 embers before opening a lootbox, because the cap is 10000 and you lose any overflow.
In the final analysis, from the 10 boxes, I got 5500 embers, plus 1700 more if I disenchant all the gear they contained, for a total 7200 embers, or two pieces of incomparable/teal gear.
The lootboxes also contained 5 cosmetics, 2 housing items and 3 pet tomes. The cosmetics were all the new Riding outfit you can see on Myrtle Mint for Figments of Splendour. Apparently the scheme is for the lootboxes to be in sync with the latest barterer. There was a total of 3200 figments of stuff in the boxes.
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