I'd imagine there's as much actual wormwood in Malort as there is fruit in a Froot Loops.
In our family it's generally been a tradition to go out in the night of August 24th each year to pick some wormwood, and then infuse some plain alcohol with it to have for the coming months. We generally don't leave it in as long recipes call for though, 24h instead of multiple days so the taste is a bit milder.
Like many old traditions the reasons have for many become lost to time, and now it's an accepted fact that that's the magical night to get some wormwood.