I want to spend hours making arrows instead of hunting, actually. Or cooking, or alchemy or making armor.
I don't think their desire to cut down tedium should be translated into a lack of time or effort. A tedium-less, effortless game that takes no time and offers no challenge is .... well it has orcs and elves with flashlight eyeballs I'll leave it at that. If they cut out detailed and involved things like realistic crafting because it's 'tedious' I'm going to be beyond sad and likely just stay in DR. Lack of tedium doesn't equal lack of time or lack of effort, I'd hope it means lacks of mindless, lack of not-fun. If the crafting mechanics are delightfully fun even if they take a chunk of time and effort that's not tedious, that's rewarding.
Dumbing down crafting to give people more time to hunt is completely ignoring a section of the playerbase, the non-combat minded ones. With that line of thought they should make hunting take no time, effort or be realistic because "who would want to spend hours leveling up a bunch of boring combat skills when you could be in town creating items and RPing?" Different people want different things, different people find different things more fun. And just because you (preverbial 'you') might find it boring doesn't mean everyone does, nor does it mean the developers should dumb it down to appeal to everyone, that's one of the main problems with current MMOs. It's what made me quit EQ2 in fact.