There's so much extra content on this server that a lot of people don't have time to run mistsong tons of times a day.
Not really..?
Luscas, Abyssal, Cr, Gr, Aegis, Whalesong, DS Invasion, Halcy War, Hasla Rift, Kraken, Anthalon, Meina/Glenn
Hardly any of these are custom/extra and on top of that, only about half of them are "mandatory" or done on every spawn.
This essentially comes down to a matter of priorities. If someone is more keen on going to luscas, CR, or another event than working towards t7'ing their weapon, then how can they realistically expect for it to happen? Everyone has only so many hours to play, it's up to you to allocate them accordingly. If you want to achieve a pretty ambitious goal (like t7'ing a weapon), it shouldn't be easy.
Give me a legitimate reason why one type of weapon should cost more than ten times more than another type of the same tier and I may reconsider my position.
The price difference between a metal and wooden t7 (legendary, really the minimum grade for efficient t7ing) is not > 10x, actually it's not even 2x if we are talking overall cost of the weapon here. A rough price estimate for a legendary t7 is anywhere from 110-190k in my experience.
In addition, A mythic ayanad or epic erenor (comparable weapons to a legendary t7), shouldn't run you more than 200k. Even if you tried to make the argument that a legendary erenor is comparable to a legendary t7 in effectiveness because of crit damage passives, etc. those only cost 300k (or potentially quite less if you buy it secondhand) to make, which would only be ~2x more expensive than an average legendary t7.
Upgrade-cost wise, The disparity between kadum barks and wrathsmite shards required for t7 crafts should not be changed.
If you are going to farm your t7 mats yourself:
Regarding wrathsmites, you (your small group) have complete control over how fast you farm them, you don't have to wait for an ingame event, you can run MS pretty much whenever you like, and Taris is guaranteed to drop what you need. You can even run mistsong up to like 20 times in a day hypothetically if you wanted to. If you're having trouble finding people to help you farm 30 for free, offer them your reticule lunarite or offer to pay them a reduced cost per wrathsmite, I know lots of people who farmed theirs this way and it ultimately resulted in a price that was comparable to kadum barks.
Regarding kadum bark, you have little to no influence on the availability of them, and you pretty much can't farm them yourself within a reasonable amount of time, considering the drop rate is so low. Your options regarding kadum's bark are pretty much buy them or buy them.
If you and your group (let's just say 5 people total) run mistsong 5 times for 6 days, that's enough for a t7. However, it's essentially statistically impossible for those same 5 people to go to every kadum in 6 days and get 12 kadum barks. I would even go out on a limb here to say your 5 man group probably couldn't obtain 12 kadum barks in 12 or even 18 days either.
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Drothroco no one is running MSS 5 times a day get real.
Actually, this isn't hard to accomplish. People run mistsong 5+ times daily in my nation. I've been playing this server for almost two years and I ran mistsong as a 5 man with complete ease as a party of 6k gearscores (pre 4.0, so probably ~7-8k after 4.0?) for one to three hours (not really asking much) every night and farmed several hundred shards. Mmistsong is not a remotely difficult or challenging dungeon for a player who has a gear level just a bit over what the support pack offers. It mostly just boils down to the amount of time it takes to run the dungeon, which ultimately, is not a good enough reason to change the recipes.
Speaking as a pretty experienced and accomplished player, there are really very few things in archeage that have truly been challenging. Part of the fun in a MMO is that you can always (or almost always) be working towards a new goal, reducing requirements or watering down recipes only creates less of a progression element.