I loaded up an earlier save where I was about to turn in a quest just test this perk out. I turned in leveled up to 30 and pick this perk up. I tested it out at the Novac reloading bench.

I've come the conclusion that this perk was probably forgotten during final testing. Seriously, 6 pounds of misc items just to make 1 round of ammo? It has to be a glitch or a mistake. It just seems badly implemented.