I think with the amount of iterations, the luck stat will become more like a constant multiplier. E.g., with 10 LUCK, 50% of attacks are dodged on average, so it's like your opponent has half the ATTACK or that you have twice the HP. Depending on how the X multiplier works with LUCK it would be a little more complicated to calculate the exact effect, but I think it still comes out to a net effect of just increasing your average stats.