edit: I realized as soon as I posted this that I sound like I'm complaining about my Ferrari *only* doing 160 mph, and that wasn't my intention, but still.... I promise I'm not trying to sound like a whiny, spoiled 1%-er.
Well, from a financial perspective, I'm not sure why you would spend so much money on a spell that clearly isn't worth it, but your complaints about meteor are still completely valid. If it's going to be kept at its current level of power, it needs to be infinitely more common, so that people can actually take advantage of group casting. If they are going to keep it rare, then it needs a pretty big boost for solo casting.
Either way, as it stands now, I personally have absolutely 0 interest in pursuing meteor, even though I consider BLM to be one of my main jobs, and, assuming there is no huge buff coming, that won't change until meteor drops below 1M. Something really does need to be done about it.