So its another fancy way of saying do 50 fates to obtain an Atma? No.

They might as well as well add the 50 x 12 = 600 fates to the second part of the quest and do away with the first part completely. The rng from Atma is what differentiates it from the second part of the quest. The only thing I would change is to make the Atma have a chance to drop from any mob in a zone rather than from fates specifically. This eliminates the need for waiting for fates to spawn and the long travel time between fates.