The Episode quests provide a good influx of their currency to be used by the players and there is a benefit from completing the quest.
However, not all players enjoy the quest system and instead find it tedious. I know some of my guild members enjoy the questing, but the majority of them don't enjoy having to go through the episode quests. A few members have quit playing because of the requirement to complete the Episode quests in order to get their gears.
I suggest removing the requirement to have "at least 1 character among your master account" that has completed the quest. That way players who enjoy questing can still quest, but players who don't enjoy the questing system won't have to do it.