Doing 400,000,000 fates which constitute hitting a mob once before it dies on every single class doesnt count as a "ton of content", if anything its broken content.
Once they add PvP and housing and such they will have a leg to stand on.
But right now the game is pretty much two instances~ and 2 raids @ max level Plus some interesting crafting stuff
1-49 is completely broken (outside of the first playthrough in which its not terrible because you have stuff to do)
Not saying its a bad game because its not, but until the major patch gets here its flawed
You must not have done much of the end game recently then, as I assume your already pretty well geared on the first class if you want to assume there is no end game content.
As of 2.05:
Wanderers Palace Now gives 40 Mythology <- Also has a speed run
CM <- Nothing new
AK <- Now gives 50 Mythology per run
Praetorium <- Speed Run (Philosophy only - Like CM, takes about 27 minutes on a decent run.)
Ifrit Farming <- Gotta get his Horn for Housing!
Garuda <- Now able to be speed ran in less than 4 minutes, also received a boost to Myth drops to 10 per run. (Speed run consists of 1 Tank 1 Healer 6 DPS) Also Feather for housing!
Titan <- Still a pain, but you get a bigger reward now. (Unless your totally geared, then he is still a 5 man) Titan's Heart available for Housing!
^Seems like there are plenty of options for end game to help people gear up right now.
Also, yes end game FATEs are a bit broken, but that doesn't really happen until Ceruleum Processing Plant. I have to think it is partially due to the lag that zone receives. You still have to adequately participate in FATEs before this.
Like I said earlier, there are plenty of Quests to do to at least help you get a second Class to 50 without hard core FATE grinding the entire way. (Though FATEs are a much more substantial way of leveling.)