The issue is looting was released in the winter and so was balanced when bug catching was off-season. It was actually more profitable to loot in fall/winter than it was to bug catch. However, I severely underestimated how profitable bug catching was in-season so things may need to be reevaluated.
Also looting spawn rates are already pretty high as long as play by its rules. Idling in one area waiting is the slowest way to actually loot.