What is exactly is the point of crafting?

[Luso]

Here's why:

1) In the time it takes to level all crafts and gatherings to 50, you can level all combat classes to 50
2) Almost all HQ 1-star gear is matched or beaten by drops in WP or AK
3) HQ 1-star gear is outclassed by Darklight gear, except in rare cases with penta-meld
4) HQ 2-star gear is equalled by Darklight gear. Penta-melded HQ 2-star will generally beat Darklight, however see point 5)
5) It requires 23 runs of WP/AK to earn enough Phil tomes to buy the materials to make a single piece of 2-star gear (HQ or otherwise). In that time, you will have earned 690-820 Myth times, which is enough to buy Artifact 2 gear, which outclasses penta-melded HQ 2-star gear in almost all scenarios barring a few examples

You are undervaluing HQ 2-star gear by a lot. Sure it says i70, but it is some of the most useful gear to have in the game. Getting the right materia melds into those gear will fix problems you might have trying to gear out for Turn 5.