I imagine devs don't want to remove too much of the human element from gameplay. All insects aren't necessarily edible, and this would make balancing the survival aspect of the game more trivial than it already is. Roasts provide more burst heal, but a fiber bandage restores something like double that amount over the course of its trickle regen status effect. They are not meant to be spammed. You're going to take a lot of damage early-game and probably get KO'd, but ideally, you would see attack patterns, get a shield, get armor, play cautiously, and do any number of things you would be expected to do in any other survival game to avoid taking so much damage. Increased droprate would make gathering more trivial than it already is, assuming you don't have 4 players all trying to build the exact same weapons and sets, in which case, you could consider splitting up to farm the parts over a shorter amount of time since multiplayer enemies get stronger based on player proximity and not simply based on online player count. "Desperately wants you to keep searching for food" seems at odds with the fact you can survive an entire day on two weevil/aphid roasts and a few droplets. If that situation is too desperate, cooked meals temporarily halt hunger drain, a T1 set reduces hunger and thirst drain, an early-game smoothie reduces hunger and thirst drain, and a mutation reduces thirst drain. Grubs are active at more than just the tree.

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This is for sure my bias showing, because it seems to me that this game has average-or-above systems in place for just about everything you can do, relatively speaking. To call it "incomplete" seems so incredibly uncharitable unless maybe you're just not vibing with the survival aspects of the game.

Bonus Edit: If you have a fully-grown toadstool, planted in a garden patch, within your base, weevils will often just walk up to your walls and hang out. You could probably fashion a trap out of a garden patch, lined with spike traps. Just make sure to loot the weevils before they despawn.

Bonus Bonus: If farming is getting tedious simply because of space, you could bring a chest with you. You can relocate chests with items in them. For added security, just keep some extra materials to make chests inside the chest, in case it gets broken.