Out of nostalgic reasons I'll link this parody that pretty much explains the feelings a lot or most of us had, as coil were newly introduced, this pretty much summons it up for the majority.
The reason I ran it in the past and still do, is the challenge because while you can skip a lot of mechanics, it's not like current 60 content that can be skipped anywhere. People need to learn the mechanics in itself before even attempting these runs and learn their jobs.
Back in the day, there were barely options to optimize your gear, in comparison to nowadays and the ways SE improved on that. The tome gear we did have to that time (we all remember darklight/myth right?) was utterly crap and the crafted gear (much later introduced) that would have mattered a little bit because of it's over melds, was stat wise absolute bs, I think the only class that actually benefited from that were BLM/SMN & BRD. You couldn't win a cupcake with that gear even if you tried. Min Maxing your gear to that time was important to mid & hardcore players, not so much to casuals obviously. To beat the X primals that were introduced during that time, you needed that gear and even for regular casual content you needed at least that weapon from t5 unless you wanted to grind for years the relic. Or spend days wiping on X-Garuda/X-Titan/X-Ifrit since you weren't able to get the token for the weekly challenge that would grant you an ilvl 90 weapon to that time. And that's why we ran it at level 50.
I personally think looking back, it was the most amazing fun time I've had throughout that game, as well as making lots of friends that were like minded. After you finally beat a turn you felt "god like", nothing and nobody could touch you, the atmosphere on Voip were something you needed to experience, it's hard to explain. But it is what it is, let's just enjoy that video and hope 4.0 will bring us back on track.