Travel is absolutely gameplay, not only is it a global gameplay when discussing the gaming media at large (Death Stranding, literally paramount importance to the game, but the 'journey' of travel in games like. .. Journey, lol, Red Dead 2 makes traveling an important element of the gameplay, and many discuss how the first time things are revealed to them via their great journey through an area, many space games with (imo) insane journeys that their playerbase loves, entire mods dedicated on massive open sRPGs to make traveling a bigger element) but locally in the space of FF games as well including FFXIV. Many FF have some emphasis on travel, specifically the progression of travel in most cases, but a game like FFXV took particular importance of the idea of travel and the experience it can provide- it was absolutely a consideration to the play of game. On FFXIV it's a clear note given they require people to go on foot at first as it provides scale and exploration to the world that straight flying access would obliterate (a system, which could be coincidence like most things, that before flying was implemented I had been asking for- pre-flying we discussed flying and I thought "would be super cool but it needs to have limitations before it mows down exploration" and one of the many items of spaghetti I throw at the wall was one very akin we have now, again doesn't mean it was my feedback that did it, but that there was a clear understanding of the importance that travel has on gameplay. Of course given the age and amount of content in FFXIV it does present a challenge for players in older areas trying to catch up and not spending time to get their currents... lol, but it works wonderfully when you're doing the content new).
Travel is a part of gameplay. Locally, globally, micro and macro. Now one might say travel is not my type of gameplay, like some people love MOBA pvp and others loathe it, some like crafting some don't, the type of gameplay may be non-desirable to some, but unequivocally travel makes elements of gameplay, and particularly can make highly enjoyable highly appreciated forms of gameplay (for the audience that likes that type of thing, it is proven appreciated form of gameplay it's not a "I think some might like it" we /know/ some love it).
Personally I think FFXIV doesn't do enough with the joy of motion, but that's partially an engine problem- as we see with something like Kugane tower where part of the issue with the puzzle is simply things are not quite as you'd expect (and you're half fighting the engine than you're innate skill of what you think the jump would take).
I do think too liberal use of flying or teleportation can have impacts on the gameplay narrative an environment invokes, but some people don't give a hoot about that. I do, I wish it was more important. But also I'm not into FFXI levels of "takes 1 hour to get to the jungle, 2 if you missed your boats". Should be in the single digits of time, and like I said the 'joy' of movement. Guild Wars 2 does some neat things with their puzzles and mount movement systems that is quite fun as an example, though of course given our current situation you couldn't just copy paste it. There is also a sense of optionality, players could just not use the teleport system currently in FFXIV- I think that works sometimes for some players, but there is also a sense of community / not being able to choose the non-optional choice (if you knew using fire on a boss was going to kill it 200% faster but you loved the water tree of skills, most people, even those who loved the water tree, are going to use fire). Of course balance, audience, it's all important to consider.. and there will be some who think "that's lame, I don't play FFXIV for forced Verminion" and others would be like "yes finally my favorite mini-game is a story requirement" lol.
So I don't mean to say it's everyone's cup of tea (and it seems like not yours, which is totally fine!), but that it's an element of gameplay that not only consistently gets very clear attention by the devs but also receives a lot of praise by a set of players as you can read about how it impacted their journey and approach to the game.
Both progression of movement and joy of movement are things I think FFXIV could have done better (context of coming from 1.0 to ARR makes it all make sense, but that doesn't mean one can't wish for more); however, both at this point in the game also need to be approached carefully and I think most changes would do better in a new mmo. Certainly more accurate movement I think would be fine, but if they went hog wild with too many new movement changes it might start to make it feel more aRPG than some people were expecting and ideally changing the carpet underneath people's feet is done super carefully.
I wonder if stamina on flying could be a thing to add (different game, or make the next Eureka) to the thought of navigating the environment and opportunity to allow each environment's narrative speak (environments are a key main character of gameplay, imo, and I appreciate when game companies treat them as such). Some system that allows you to get to where you need to go without thinking of throwing your keyboard out of the window but yet also think about what you're doing such that the solution to every problem is not just "hold space bar, hold w, get to location".
There is imo a sweet spot of travel to time cost, and it is going to vary depending on target audience, and while I think large changes to FFXIV would be disruptive I think the same audience here would be fine in another mmo if there was a shift from 30 seconds to 2 minutes.