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There are plenty of plausible reasons that Venat didn't explicitly lay out Zodiark, Meteion, and so forth. The most brute force is that she knew it wouldn't matter, we're in a closed time loop and a future that produces a WoL that will travel back to Elpis is going to happen. That is also not a terribly satisfying answer, but it's notable that if you go with it, Venat still tries to convince the Ancients to reject Zodiark. She knows it's hopeless, but she still tries because she loves her people and their world.
Prior discussion has gone over every one of Venat's weird, thin, unconvincing excuses ad nauseum (what is the Echo? We just don't know), but what it comes down to is: once again, Venat agrees with the premise of Hermes's test and wants to see it carried out. She fundamentally chose to say nothing because she wanted to see mankind take on Meteion's challenge and prove her wrong. Proving that Meteion was wrong about the worth of Life as a universal concept is, to Venat, worth burning up trillions of individual lives. The second she says "we must prove ourselves equal to Hermes's test and prove man is worthy to exist," everything else is just mealy-mouthed spice on top because somewhere, deep down, both she and the writers know that it sounds
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It was absolutely a genocide of the Ancients and the writers assumed that people would realize, based on FF14's previous anti-genocide stance, that it was a horrible, monstrous choice. But that with the context of her beliefs and the events around her, there were no good choices.
With the context of Ilberd's beliefs and the events around him, there were no good choices.