Chapter 2 players honestly are wasting their time in the FSA. Unless they're in an FS that is carrying them to rewards, its just not worth it. Assuming you're branching out from your normal playstyle, you're winning prizes that become obsolete too quickly. Its the same as events. Yes, do events as far as you can; but don't kill yourself and gimp your city to get 100% completion just for the sake of being a completionist. The rewards aren't worth it, and you'll be in Chapter 5 in a month anyways.
This is almost true...
We have the upcoming Royal Restoration spell release - likely by the end of year at the latest? (maybe, possibly...)
This will radically change ALL events, since now there's no reason NOT to go after 'good' rewards, even if they won't truly shine until later chapters.
Myself, I've already begun planning which buildings to continuously upgrade as I eventually move into Mana -> Seed chapters.
While initially the RR spells will probably just be 10-chest tournament rewards, eventually though, you can likely expect them to become common'ish come every single major event. (trust me, FoE's versions which the RR spell is based on, are readily available in every single major event!)
So just saying, "forgot about playing half the game until you're into Ch.4-5" isn't such a good idea anymore.
While it will take time & effort, every event building in general is now viable once RR spells become available.