This definitely must be a bug. Out of 5 servers (default settings apart from adding caves and making the size of both cave and upper world Huge) - I always got only 2-3 clockworks in the whole upperworld map. And don't tell me there are other mechanics of getting gears. Yes I know you can pick tumbleweeds, you can go to ruins, etc. But it doesn't solve the issue, that there are far less clockworks, than in Singleplayer DS. And this is for more people, thus more gears are needed = more clockworks.
If you set the world generator to "more clockworks" (the first higher option), you will get random clockworks ALL over the map. You will literally find them on every few steps, it is crazy. How is this only "more"? And why they are random without any spawn point and carpet and statues? They just roam free the world... It doesn't add them as spawn points, just fills the whole world with them.
Could you fix it?
Steps to Reproduce
(to get low number of clockworks) Set any world being huge, add caves and set them as huge. Explore map (or reveal by console) and you will see there are max 2-3 clockworks in the whole map for all players. (to get insanely high number of clockworks without spawn points) If you set the map to huge with huge caves and set clockworks just to "more" (not many), you will find many many clockworks, on each step actually. What the heck?
Status: Known Issue
We are aware of this issue and have it logged internally but either we do not have a fix ready yet or we are not planning on addressing the issue in the immediate future.