Obviously, the enemy will die before the DoT ticks to full if you're focusing down one at a time. If you're applying DoTs evenly across enemies and also spreading your single-target weaponskills, then almost all enemies will take longer than 18-30 seconds to fall.
I see this contradiction all the time. A common excuse is "well, the enemy dies in less than 18 seconds anyway, so DoT is not worth it." Yes, but this is only the case if you only use single-target attacks on one enemy at a time.
And yes, AoE abilities are not very TP-efficient. However, single-target combos are only second on the list in terms of TP-efficiency. DoTs are the most TP-efficient, bar none.