After spending some time with the mentioned modes, I agree with a lot of OP's criticism.
Towers of Time difficulty varies based on the effects you get. Some are relatively easy, some are atrocious. I admittedly haven't looked heavily into augments and the strategy behind them, this might significantly improve the experience. At the same time, I'm really put off by the general notion of having to grind consumables and augments, just in order to beat a random ass modifier. Might be fun for some, but not what I personally look for in a MK game.
The Krypt IS a long grind. The gameplay itsself is fun. You roam freely, there are some puzzles to complete ect, I really like the design and concept. The problem is, as OP described, that there's SO MUCH SHIT I don't care about. What I want out of the Krypt is Fatalities, Brutalities, Skins and Gear. You eventually get them, but there's so many chest that just hold consumables, concept art ect. I'm not saying these things shouldn't be in the game, some people may like them. But it's really annoying to grind through just to get to the good stuff. The problem isn't the time spend in the Krypt, the problem is earning all the coins you need to open the chests.
Edit: I just had a look at the fatality list thread. You can use a fatality you haven't unlocked with the correct input, but doing so does NOT unlock the fatality for further use like it did in MKX. I guess you can just memorize or write down the ones you don't have yet, but if you truly want to unlock the second fatalities for all characters you like, that will take some time.