Their criteria for success are different from yours and some other players. It's not stupid when it's accurate with respect to their goals.
What the ultimate goal for MMORPG developers? Giving players reasons to keep repeat content they've already completed for as long as possible so they stay subscribed and help fill parties for other players getting to the content for the first time later.
Have the relics done that? Certainly. Players couldn't get tomestones for the relics and XP for any jobs they were still leveling at the same time. That meant repeating the content more to get both done.
Is the system at odds with what some players feel the role of the relics should be? Yep, but those players are too few in number compared to the number that the developers are trying to engage in repeating content. Like it or not, developers have to satisfy corporate bean counters with engagement numbers. When those numbers are too low, the bean counters decide the content is a waste of resources and tell the developers to do other things instead.
Fun fact: raiding almost died as a content option in WoW back in Burning Crusade. The participation numbers were so low that the bean counters told the developers to stop wasting time and money on raids. But the developers were very passionate about the raids they had created and didn't want to stop making them. They came up with the idea of 10 mans and an additional easier difficulty that would get more players into raiding. The bean counters gave them a chance to show it would work and it did. As the saying goes, the rest is history.
It's fine to dislike the system they've chosen. The real stupid argument is to pretend it wasn't successful from the corporate viewpoint when participation numbers indicate it clearly was.
So expect relics to continue to fill the "glamour is the real end game" role going forward instead of being symbols of achievement for those with too much time on their hands. Hopefully the new Field Operations zone announced last minute will have other rewards for those with the interest and time to invest in a grind, like the Al-iklil mount. Definitely don't see many of those around and anyone that knows the source knows what pain the owner had to go through to get it.
You claiming the game has no content and doesn't respect your time is even more stupid as an argument.
You're the one not respecting your time or your money. If the game isn't meeting your entertainment needs, it's up to you to stop paying and playing. It's not up to the game to change to suit you.