Correct way to think about Fresnel effect
I will answer based on my experience with Fresnel models. Due to Kirchhoff's law of thermal radiation, in an opaque material the emissivity plus reflectivity plus absorptivity equals to one for every direction in thermal equilibrium. If the BRDF model you are using is physically-based, it should preserve energy conservation. That means that for a given viewing angle, the integral of the equation for the entire hemisphere should be equal to 1. It may be possible the reflectivity value near the normal is low, but that means that most of its contribution is elsewhere. For example, for a near-normal viewing direction, you can have a really low specular reflectivity but a much higher diffuse component. That may be the case of your model.