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FATEs aren't bad on their own, but I would prefer a more reliable timer for the specific ones. Guild Wars 2 has a similar system and it's almost perfect and less annoying.
And maybe lower the number required a bit. The Anima Relic Quest is super annoying with how many FATEs you have to do.
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Huh. As much as I have "issues" with the Yokai event, particularly the 30 medal requirement on the last 3 minions for their weapons.. I actually like FATEs. Like, genuinely enjoy them. Far better than the camping in one spot that FFXI always had...