It does and it doesn't. It points them out, though you never see any of the current leaders replaced or slain for their failings. Whereas they're more than happy to do the same elsewhere.
I don't expect the player character to die, though it has become clear that nobody on the level of Nanamo or Y'shtola is going to bite it, so we can assume they'll prevail in every scene they're in.
I suppose replaying Classic has made me lament the lack of relevance of different factions, organisations and so on. Everybody in FFXIV is either wiped out or forced to adhere to the 'we're all equal' approach which isn't something that interests me in a fictional fantasy setting, I suppose.