This is a great illustration as to why the treasure hunt reward scheme as a whole is broken. Matching anything above a brown/green chest actually lowers the amount of total rewards on the board in exchange for a chance at they being a "better" resource and more space to potentially recoup that loss eventually. Each match makes subsequent matches more difficult and time consuming, yet you still get just a static traitstone per 15. You only get a one time seals reward for 60+ moves, which is already far past optimal. Extend a run to its extreme, and, well.. this.
Having done the whole early game thing again on a second account, no, treasure hunt really isn't even all that good early game. The very first week you join all but the very slowest of guilds should net you enough glory to buy one of every troop pack, and continue in perpetuity as long as you supplement with some PvP every week. Gold speed starts to stagnate very early on, with early PvP in Dwarven Armor in a half-decent level 5 team can net you roughly the same amounts. Getting that small boost to souls to level your first team, at a point when even the normal five star challenges are pretty rough, is probably the best use of maps at this point. Plus, this early on and you actually have to obtain the maps - an act that consumes additional time and further lowers the reward ratio when you'd actually want to use them, but extremely trivial when you don't.
And yes, you can farm glory by doing treasure hunt speed runs, but to what end? Super early gamers will always be in range of getting a single pack, but out of range of buying enough to trait a legendary. Smart mid-gamers should be able to easily store enough glory to trait an important troop when the time comes around. Endgamers.. well, I'm pretty sure we can get glory almost as fast just using PvP anyways. If you are regularly doing treasure hunt to supplement your glory income and then using that glory to buy extra troop packs just for the arcane, remember, if you can get, say, 300 glory in an hour from treasure hunt (a high estimate already) and are using it to buy a specific color arcane, you can more than likely cut out the middleman completely and just farm explore for an hour where you could clear as slowly as one battle every 3 minutes and still come out ahead, without the months long wait associated with buying arcanes from glory packs. Getting enough for one or two extra glory packs super early on so you can trait your first rares or ultra-rares by supplementing with Treasure Hunt before you can even unlock their kingdoms can be beneficial if the colors you need are actually in the packs, but otherwise, wont be particularly beneficial even in the short term either.
If you actually enjoy treasure hunt, that is another matter, but really, you can either (a) pretty much always do better reward wise for time spent (gold, souls, possibly even glory at endgame) or (b) the rewards gained are not impactful enough in the quantities given per unit time invested to make any significant difference long term (gems, glory keys, gem keys).