After fishing 40+ levels (in open water live, not afk) there were zero 'Treasure' category rewards.  I used enchanted rods, one with Lure only, the other with Lure and Luck the Sea (both have Mending). 

I'm addicted to the news so I'll split screen and fish while watching news streams.  Since the 1.16 and 1.16.1 updates I have not fished up one Treasure.  I've received all the Fish and almost all of the Junk (no fishing rods good or bad).   I went from Level 8 to Level 48 fishing with no reward, this is unusual to say the least.

This is NOT an afk farm, this is live fishing on a lake, again, NOT an afk farm.

 
Thank you