Yes, but the drops are lower compared to Spicy. Spicy seems to drop a lot of items simply because people are hunting him like crazy using brooms. I am guilty of broom-hunting Spicy as well whenever I have the time.
I guess I can see why people are reluctant to hunt Kronos like other normal bosses, because in order to face True Kronos you have to undergo lots of quest and trials every time (also not guaranteed you will win when facing him cos he is really strong) @@ Not too mention his location is really deep inside the tartarus, even reaching there is already tough for some classes since the monster spams A LOT of electro stun, Dark Lance and Poison Pouch.
I am not begging for tartarus to be made easier, since after the nerf it is now more than perfectly doable but yeah maybe an increase in drop rate would be nice for now in order to spark some interest for players to hunt him (maybe make the drop rate similar to normal uniques, since you said its lower than spicy). It's not like we can spam broom or spam Kronos either because we still need to go through the tedious quests and monster hunts. The number of players that can hunt him is not that many either, so even with the slight increase in drop rate, I doubt anyone will drop anything soon.