"Pointless" is a bit strong, but the mod absolutely has issues. My main issue is that it does, at this point, not really resemble a Civ game anymore. It's kind of an RPG-lite with a generous helping of LARP.
This most obviously manifests itself in the Unique Victory every race can achieve. Many of the conditions are just fucking RIDICULOUS, requiring you to metagame completely in order to fulfill them instead of simply playing Civ effectively. The lizardman race, for instance, requires you to ambush 50 foes inside your own jungle territory. I can't recall a single game of Civ I've played where having that many battles inside my own territory was necessary and it seems that you will HAVE to declare wars for the purpose of luring enemies into your jungle to complete it. The horseman mercenary Civ requires you to pillage 100 improvements or something. Why would you want to Waste time doing this when your army should be busy focusing on taking the fucking city right NeXT to them?
Another issue is the emphasis on Building up your pissant troops until they're OVER NINE THOUSAAAAND levels, with several Unique victories requiring level TWENTY heroes. If you solo 2-3 civs with one hero, he might reach that level. Might. This gets even more jarring when you consider that upgrading you hunter's guild, as mentioned earlier, requires a level 9 scout unit, scout units typically being fagballs at anything but hunting monsters and isolated enemy units. More metagaming needed here.
This is easily the most elaborate mod for Civ4, but the larptasticness of it all prevents it from being unquestionably the best one. In my book, it's a tossup between this one and Dune Wars for that honour.