Well the way vault is designed the more slots with max ilvl gear you have the more chances to hit an upgrade as higher ilvl is usually an upgrade.
Other than that you have chances for max ilvl gear TIER slot for catalyst (as you cant use crafted for tier). Then you have offpieces that you can change stats at catalyst which might be upgrades too.
If nothing good is at vault ofc then you get 6 tokens of merit. Usually you want 3 sockets for the season (head/wrists/belt) as if you craft double rings they come with socket.
You can also craft a 447 weekly now using 6 tokens for 1/2 spark and 1/2 spark from quest. My personal experience is that 6-8 weeks after season start you dont really NEED vault upgrades but you just hope you will get max ilvl your BIS M+ trinket.
Once loot changed to group loot from personal loot it became harder to gear. Instead of knowing you’d get two drops per run, you can now go several raids without getting anything.
It’s better in guilds usually where they will take into account how unlucky some players are.
I’m not a fan of group loot myself but a few abused the old system with class stacking to funnel gear.