Honestly, endgame crafting has NEVER been about making money in FFXIV. The money for crafters has always been in selling materials to endgame crafters, selling glamour items that require rare materials but are easy to craft, or selling mid-level gear in large quantities. You can do 2* crafts with all white gear. (It helps significantly to have HQ Seafood Stew though, but the rotation I have works with NQ.) The requirements are high, but not THAT high. The melds only cost me 1-2 million, and if that's a lot of money for you, you can sell a couple red gathering and red crafting scrip tokens. I could make millions right now for just three red crafting scrips without losing a single red gathering scrip by just buying the HQ two star mats with the random items I've gotten while going for NQ two star mats.
The thing is, endgame crafting in FFXIV has always been aimed at the people who enjoy the crafting minigame. There doesn't need to be a point to the top crafting gear besides having it - it, by itself, is a goal that's fun to work toward. The grind isn't even that hard - people are making it out to be much worse than it is. It takes about an hour one day a week to max red crafting scrips. You wait until there's a starred item worth 40-50 for max quality and then make 9-12 of them. That's like, ~20 aurum regis and ~20 birch lumber, usually, which is only about 330k if you don't gather it yourself. Gathering is a longer grind, but you only need to hit 15 nodes throughout the week to max on average ((2+(0.6-2*(0.3)^2+2*(0.3)^2))*12*15=468). That's a little over seven pairs, which means one per day (takes 6-9 minutes per day) is about enough.
The only part that's a true grind is getting the blue gathering scrips for the tomes. 5,000 blue scrips per tome is kinda absurd. But, really, it's no worse than the lucis grind. That was ~66 nodes per lucis. To get the MIN and BTN lucis, it was ~132 nodes. This is 4950/(2.6*60) = ~32 nodes per book. For every book (MIN+BTN), it's ~192 nodes. But, the nodes come twice as often as the Lucis nodes, but it's hard/expensive to hit both and still get both red scrip nodes. Doing one node a day following your red scrip node pair and without using a cordial, that's one book per month. With a cordial, it's every two weeks. And that's with only hitting one node per day.
The real grind is caused by the sheer number of moving parts, but each part isn't that bad.
But, I do have some issues with the system. My biggest problem is that if you fail the final synth, you lose absurd amounts of time and effort. I dread DCing during one of those synths! And then there's the fact that 3.0 endgame crafting *requires* you to have all crafts and gatherers at 60. I really wish they made it so you didn't have to be an omnicrafter/gatherer, or rewarded not being an omni, but instead, they significantly increased reliance on being able to do everything. You can't turn in BTN favor materials for items without also having MIN favor materials. All endgame BSM synths require endgame CRP or LTW synths. Red gatherer scrip items are useless without red crafter scrips to turn them into materials. While yes, you can find people who are willing to trade you MIN for BTN items or vice versa 1 for 1 if you both don't have the other class, what about people who don't have any endgame gathering but want to do endgame crafting? They're totally SoL. I know plenty of people who hate gathering but love crafting, but no one who hates crafting but loves gathering.
Also, I really hope they don't release any new crafting equipment from now until 4.0, because the grind is so hard, it'll be demoralizing if they release better gear after just a couple months that invalidates it =\ I mean, yes, there eventually will be better gear, but this stuff should last us through 4* level 60 items. I've worked toward the blue gear since 3.0 came out, and just made my first one last night.