It certainly takes too long to get an account but the issue is with people creating spam and creating tons of accounts to harvest funds from the system. Each account is delegated a certain amount of power and if accounts were free then people would write scripts to create a 100,000 accounts and then use all those accounts to upvote their own post to gain a significant control over the reward pool.
It is a tough problem to solve in a system with free and instant transactions and also a system where new accounts can partially dictate what happens with a reward pool of new coins.

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