Mounts are meant to be useful companions to help you traverse the world, and are to grow stronger the more effort you put into them. This is the fundamental basics of what mounts are, however the way they have been implemented has been less than well received overall.
First and foremost. The way mounts have been implemented is heavily timegated. Now while it makes sense that it would take a while to feed and breed your mounts, it takes an absurdly long time to feed your mounts after the first few times. It appears to be based on limit, which means after you have fed your mount enought to breed, every feed for that mount and its offspring will be 6 hours. And while the amount of each stat given by materials has been raised, it is not nearly enough to compensate for 6 hours of downtime.
Now it has been explicitly stated by the wynn team that it is that long because they intend for you to interact with the mount system once a day. In my opinion, that is an extremely poor excuse to give people more reasons to log on daily, when most who play long term will already for lootrun and raid daily bonuses. Imagine being told you can only do a raid orlootrun once every 6 hours, or collect 10 items from the outer void per day. Even if it isnt meant to be main content, let those who really enjoy it play it more than once a day, for longer periods of time to make up for days they have less time to play.