If yours is anything like mine... it's not a rod but a cable. I doubt it has as much to do with the cable as it does with the valve it self.
The cable on my RV is enclosed... I feel it is well protected from any water... salt spray... corrosion from getting inside to cause the cable to bind.
I would look to the valve causing the difficult movement from "Stuff" getting around where it slides back and forth.
They sell dump valve products that are said to help lubricate them... I have my doubts as to how effective they are. What you don't want to happen is for the cable to come off the dump handle shaft. If that happens... your going to have to some how get to the back side of the handle... or .... replace the whole cable from handle to the valve.
In My Opinion... needs to be added I guess.