I definitely think that players should take the time to enjoy the story properly. That said, though, I fully understand the frustration that comes from locking all the content for each expansion behind the MSQs from the base game and previous expansions. It's just not a sustainable system. It may have been doable in Heavensward, and it may be dubiously tolerable in Stormblood, but what about the next expansion? And the one after that?
An MMO NEEDS an influx of new players. How many expansions will it take, before the majority of potential new players - even ones who actually DO love the storytelling - see how much the have to wade through before they can participate in meaningful raids and other endgame activities, and just shake their heads and look for a different MMO to play?
One thing I appreciated about FFXI is that many - possibly even most - endgame activities were separated from Main Scenario, or required only minimal progress. HNMs, you could do right off the bat. Dynamis required completion of the base game's MSQ, which was pretty short. You could do the Alexander stuff (Salvage, Nyzul Isle) as soon as you could access the Undersea Ruins. Skirmish, and Delves I think you could access as soon as you got the expansion - and Delves I'm pretty sure still provide among the best obtainable gear in the game.
So, why do MSQs at all? Aside from the storyline (which, imo, is its own reward) the MSQs provided unique equipment drops or other benefits that stood the test of time. The Adoulin MSQs awarded extremely powerful rings, along with a situationally useful neckpiece (one of which provided permanent auto-reraise when participating in Reives, one Adoulin activity). Promathia awarded rings, equipable at level 30, with stats that grew stronger and stronger as you leveled, making them viable leveling gear from levels 30 to 75. The important thing, though, was that players could pursue these rewards at their leisure while still participating with their friends in the toughest content the game had to offer.
Sadly, the itemization used in this game makes it difficult to provide lasting equipment rewards, but surely there could be some other benefit provided by MSQs that would make them desirable WITHOUT making them a requirement to participate in endgame (at least, not in all of endgame).