People farm gold because they don't wanna gamble their time with rng loots. Just look at the threads and complaints made during the recent Banner Bash and Renown Events, where a handful of people loot their pages and wings right away vs. people who have been running way way more to go home empty-handed.

Farming gold is so effective because you get rewarded in proportion to how long you farm. Thats why so many engage on it, that's why the game suddenly becomes so much active whenever Rahab is opened.

Mind you also that Gold farming has been in the game for 7yrs (since 2016 Mausoleum/ESG Era). So, the concept of gold farming has been around longer than the game used to cater to solely farming an item.

Devs should rather implement more ways to liquidate gold, like how they recently offered exclusive vanities and crates for gold in the vendor.