Was trying some sites like freebitco a year ago and yes I earned a little bit of money. But the time I have spend isn't it worth on my opinion.
Yes it's a safe way to earn money, that's right but you must spend time on it. If you hold maybe 1BTC you will not spend time on faucet sites.
And I always recommend to leave your fingers on HYIP sites, they will always ends in a scam.
You are 100% correct that 1 BTC, bought when bitcoins are cheap, is a way better investment than faucets will ever be. Especially with these high prices we are dealing with at the moment. Also in as a long term investment given that the bitcoin price have a general increase in value over these last couple of years. But you have to keep in mind that investing in Bitcoin, like all other investments, carries risks. No one can for sure guess the price of a Bitcoin tomorrow.
As for you question about the amount of time needed to reach our "payout goal/limit": it really depends in the site you use. You mention freebitco.in which has an hourly payout at around 250 satoshi and a minium withdrawal amount of 30 000 satoshi, which means you are going to need approx. 30 000/250 = 120 payouts to be able to withdraw to your wallet. In you are awake 16 hours a day (given 8 hours of sleep) and subtract one hour for slack and etc. we get day you can withdraw within 120/15 = 8 days. Now you have to keep in mind that freebitco.in doesn't force postpone tranfers if you don't reach our "weekly" goal, since you can manually withdraw at any given time. As for home much time your actually use for one withdrawal of 30 000 Satoshi: I would say each capthca take about 2 minutes to solve wich means you will be using 120 x 2 = 240 minutes or 4 hours of your life for 30 000 satoshi weach comes up to about 0,305$.
This is ofcourse WAY different for other sites like moonbitco.in and others which have different payout timers and withdrawal limits.
It's not worth to claim from faucets, it would be waste of time, because there are plenty of more effective ways to earn bitcoins.
I'm claiming from faucets when I have free time, but mainly for fun. And I'm still trying to build my "referral army".
I like one aspect of faucets. Coins which are claim one-two years ago now have few times bigger value.
You are never going to earn "decent" amount of bitcoins from faucets, otherwise it would be a given that all did it, and even quit their day jobs for it. The revenue from ads and donations on these sites just doesn't support it.
Which is why I 100% agree with your statement, that claiming from faucets always should be seen as a free time killer and nothing else, given thatany other paying activity (job or whatever) would make soo much more sence of using your time on.