It is and it isn't like 4 x Crystal Tower. The floors are very fast to clear, in 1 hour you can do 1 floor 3-4 times using Duty Finder with wait times, 4-5 times if with Party Finder and there is no wait time. So it's basically like a Crystal Tower where you attempt each boss until you get the drop you want from each of them because now instead of 1 drop from the whole raid, it's 1 drop from each boss.
And yes, you didn't need to farm CT 4 weeks for a body, but with Alexander, you're farming multiple items during that 4 weeks. So like Week 1 = Waist + Quest ACC. Week 2 = 2nd Acc + Head + Hands. Week 3 = Feet. Week 4 = 3rd ACC, 4th ACC, Body. Week 5 = Legs.
If you wanted the body piece in CT and the body piece only, you could have done 5+ runs just to see it drop.
And no, the odds of getting a drop is not really 12.5%. That's a worst case scenario if everyone in the party wants the exact same drop as you.
In Alexander I've had situations where I had to compete with 6 people one time and 2 people on different time for the same piece of loot. Some people want the ACC item, some people want the Hands item. Each floor drops 3 different loot and you can only pick one of these per week for that floor so not everyone rolls on the same thing. At first it might be bad since people are most likely needing and getting what ever they can. But by week 2+, people will need only a certain item only.
If you're finding that Alexander is getting old for you, that you really don't enjoy running it, then don't. In 2 weeks we get Tomestones of Esoterics. It's not 5 weeks non stop of doing Alexander. If you're lucky you can finish with Alexander in 1 day for that week. If not it can take 3+ depending on how long you can play for. People farmed Crystal Tower for 5 weeks to get full left side. But those that didn't care for the loot in it didn't bother. The same goes here.
So why complain about it if it's going to be at least equal with Esoterics? If you don't like it, don't do it.
For casuals, you can clear the dungeon once for the story. If you want the gear, farm it.
Do I complain that PvP gear is locked behind so many hours of PvP? No because I'm not interested in PvP.
Why complain about something that you don't even need? You just said it. So what's the problem?
The same can be said about any content. "Even if you spend 8 hours a week leveling crafters, that means people can't level alts, farm hunt seals, do EX roulettes/primals/sidequests/gather/Alexander". If Alexander isn't what you want to spend your in game time on, then don't spend it on it. No one is forcing you to reach your weekly lockouts except yourself.
Yes the story mode doesn't need extensions. That's because it takes what? 4 hours to finish all floors as a first timer learning the fights and you're done with the Story Mode of Alexander. You've experienced the story, there was no extension. The only thing extended is item level 190 armor and accessories. And I highly doubt 2 weeks of farming 4 items from 4 bosses is enough to burn people out for the Savage mode. Most of the people getting ready for Savage are already done with the first week. One more repeat of what this week was is not going to burn people out.