I'm running 2 atm and 2 hours a week for soul ash is a lot less than the daily grind required for both Artifact Power and Azerite power. Your Anima can be dealt with in 2 dungeons and a few world quests (over an entire week). There is no essence grind.
Ofc it has a min level of effort required to achieve something. But saying it's the same as BfA is hyperbole.
We also see that certain covenants offer more. Most of us just don't care though mate. It's potential DPS for the few raiding at the very top.
The problem with the gains in covenants is it's all potential. And the system is no better or worse than when professions gave buffs and people felt 2 gather professions were mandatory to maximize there ability. I just don't remember half the playerbase going batshit because Skinning gave them 50 crit rating and Herbalism didn't.