No. Your crusade will be 34 seconds tops now.
Every rank lost 0.5 seconds = 2.5 seconds with 7 ranks.
The crucible does not allow you to have 2 of the same traits on the same relic. It simply makes it easier for you to have a specific one in every one of your 3 relics.
So, crusade will still be 34 seconds, but you will get some extra relic traits like BoJ/DH damage increase traits or DS/TV damage increase traits (or the CS crit i guess).
I am waiting for the theorycrafters to say something, but i would'nt be surprised if cloak and highlord become the best legendaries. Chain got nerfed. The damage increase is now additive instead of multiplicative.