As discussed on Discord a couple of days ago: Currently the AF is just a glorified furnace when it comes to (raw) ore processing on 1.17+. Doubling raw ore is too much, so we need chance-based output to make it useful for ore processing again. Blu suggested a multiplier of 1.5 (compared to 1.33 for the crusher) once that is implemented.

Chance-based outputs are implemented in 4d1f397. They aren't shown in JEI yet. As discussed on Discord Blu will be implementing that part.