I just checked and the 2-spawn is camped on green. One of the reasons I've never seriously tried to camp it is that the 2-spawn is usually occupied. I spent a ton of time there on my bard swarming goblins for skins and it was usually camped.
I think you're seeing the symptoms of a decade-old dying server with a population in the couple hundreds. Regardless, if there's a 10% chance of a ring drop in 10 hours spent leveling there, that's really good. If there's a 1% chance it's still worth considering. If there was no goblin ring it'd still be a good suggestion for a charming druid in the teens and low 20s.
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