There were monsters on the remaining two paths as well, a three-headed hydra and a heavy crab, both one-star monsters. They dropped one Divinity point and one material item each after being defeated.
Upon comparison, the drops from the Mud Monster were indeed a bit better.
[You have equipped the 'Slime Poison Gland', 'Demon Breaker Hand Cannon', 'Omniscient Crystal.']
[Successfully defeating the first demon filled you with excitement, feeling a step closer to your goal of defeating the Demon King. You boldly continued forward.]
[You accidentally fell into a pit of acid!]
[The pit was full of recently slain Mud Monster corpses. The venom of the Mud Monster was continuously corroding your HP!]
[With all your strength, you finally climbed out of the acid pit! Your HP decreased by 11 points, current HP 30/41.]