Yes, once you Find an item, only the trap remains. Unfortunately, that also means you missed out on the Chaos Blade, Chirijiraden, and two Elixirs that can be found in END. With Move-Find Item, you will (with very few exceptions) find one of two items. The chance of finding the better item is equal to (100-Brave)%. Thus, a character with a Brave of 40 has a 60% chance of finding the better item.

Fortunately, you can sometimes Catch rare weapons from high level Ninjas. Nevertheless, Move-Find in END is probably the easiest way to get a Chaos Blade.