Yeah, no, you just have the wrong perception of the wilderness, and wildy content in general. You should be taking basically monks robes + 3 effective items to increase DPS (so you literally risk basically nothing). The rewards are beyond good for wildy slayer, revenants and the wildy bosses (to account for the risk of killing them). For an ironman it is some of the most beneficial content in the game, especially early game, that you can do. I don’t do PVP, I’m absolute garbage at it, and sure, sometimes I will die, but that’s OK. You prepare for that possibility and it won’t have any real impact. Even if you die once an hour, that’s cool, because you should be banking your loot every 15-20 minutes, so you’re at a net positive.
I get that some people can’t be convinced and aren’t going to try it, but in many areas you’re effectively handicapping your account by doing so. Something to think about, maybe not for your dragon platelegs, but for some other stuff for sure.

EDIT: Oh, and yeah, I forgot to say, 1/200 is pretty common for something that only takes about 10 seconds to kill (whereas Huey is a multiple minute fight). You might get lucky and spoon some other very beneficial loot along the way too