I think too few people are taking advantage of the first-timer bonuses. My fc has been doing some unsynched runs for old extremes (including Odin) and coils and it's super fast. Each instance gives a 100 poetics bonus when a first timer is present, which is a total of 2000 in bonuses and 397 from base rewards. That's almost 3 unidentified items in one sitting and you get to revisit some content you haven't done to death recently. It may not be as fast as speed grinding Alex but it's definitely more fun!Do it a few times a week on top roulettes and beast tribes and you'll have a relic in under a month. Flexibility is something I really like about this relic chain. You can pick what you like doing instead of killing 10 of this and this mob or doing this and this fate/leve.
About effort vs. reward. People don't take into account that each step can be worked on at the same time, so anyone who picks up the quest now can make progress faster than someone who has kept up with the quest. You get tomes while doing the required dungeons and you can do fates while queuing for roulettes. The relic does take more active play time than a tome weapon. However, by doing only 50/60/ex/MS roulettes, CT and HW beast tribes the amount of days it takes is very similar to what the tome weapon takes: 54 instead of 49.
Some steps for the relic are harder than the equivalent tome weapon (like the 210 step), but some steps are easier (like the current one: Esoterics and CT instead of Lore and A8). The path of the relic weapon is one where the reward is not always obvious but lies in the future. Right now the people who have kept doing the quest are getting an edge in gearing with Lore tomes as they don't have to spend 1000 Lore on a weapon. Even though the two weapons are seemingly equivalent, the relic offers 1000 Lore tomes worth of a boost in other gear slots which makes it a superior choice. Therefore the extra effort it requires in total is justified, especially for those who are progressing through savage.
The benefits for doing the quest chain will only become more clear with future relic upgrades where you will be able to customize stats. Those who give up early will complain again and again how the whole quest chain is too much work compared to the most recent tome weapon despite the fact they have had almost the entire expansion to work on it.
I wasn't talking about the actual quests but the items you need to gather. You can start gathering Unidentified items (3rd step) and Aether Oils from CT (4th step) whilst still getting the fate crystals. I know because I'm doing so at the moment. That's why I said "each step can be worked on at the same time" not "each step can be done at the same time". I suppose the dungeon step is an exception but it's quite trivial compared to the other things you need to do.