I played high Luck/Turmoil in the recent Megagame as Jomon. I was roundly thrashed

But not because of this. In this case I think it was Luck 3 / Turmoil 1 rather than the full 3/3.
My thinking was that Jomon's troops are cheap but resource heavy so hard to mass produce and they really benefit from getting finds of gems (they are desperate for Death gems). Plus the mages are cheap (but not sacred). I also put some blood on my Pretender and had started a small blood economy which was still at an embryonic stage at the time of my demise. So I had hoped to later be blood hunting on zero taxes in a number of provinces.
I hoped some big money finds would build my extra forts. And to a degree that is what happened.
I did suffer money problems though. Your capital is well down on an order power from turn one and it just gets worse as every province bordering your forts give relatively less gold too. And each subsequent fort is that much less productive moneywise. Nearly all powers require large quantities of mages for research even if not for battle and their cost and upkeep is just too high in the long run.
A bad scales pick for a double bless or awesome awake SC can work because the pay off is you get more provinces in early expansion and so more income that way. But turmoil/luck just doesn't help with that.
So unless you get turmoil freespawn or are LA Ermor I think turmoil / luck is just weak. Everyone, including big blood hunters, need money.
The real problem is luck is just weak, so boosting it with turmoil just isn't that great. You do get money and gems but it hardly compares to the income boost of many provinces under order. Even with Worthy Heroes the heroes are just not enough and you often pick some up with anything other than Misfortune 3. And there are simply too few of the sylph (??) type good events where you get a free mage which may boost you in paths you don't have. i.e. not many 'special' finds that can really turn your game.
I like luck and take it in SP and sometimes in MP. But it is not a power pick and in nearly all cases I take it for style and know the points would have been better spent elsewhere.