I would argue the opposite. Black market liquor (bootlegging) requires a full black market distillery industry and smuggling/distribution network. It's every bit as difficult as operating in the narcotics world, with violence and cartels everywhere.

Black market loot boxes, on the other hand, seem to me to be similar to software and media piracy and illegal streaming: easy to operate, extremely difficult to prevent.

Isn't the perceived value from "rare items" from those loot boxes based on the popularity of the game/IP that the loot box system is attached to?