@GH0STEDbyMETrue suppose, I think it depends on how many packs you've opened. If you've opened a couple hundred packs (more than 500) and save the crafting materials, you'll have a ton of it. I have about 22,000 crafting materials and have opened around 1100-1200 packs. I did have around 32-35k crafting materials at one point, but I used about 8000-12k to help lower the cost of Caustics heirloom.
Now when I open packs nearly every item I get is crafting materials. I actually won't buy packs anymore because of it. If you get a duplicate legendary skin you only get 600 crafting material, which is only half of what you need to get a legendary skin of some sort. It effectively doubles the cost of getting 1 legendary item.
The crafting materials do cost more for rarer items. The event items that can be crafted are substantially more crafting materials. This winter event items you can't even craft which I some what understand, but also don't agreee with. If you have tens of thousands of crafting material, you've already spent $1000+ in game.
Plus if you want specific items, just buy them instead of the packs. I do think buying individual skins should provide some type of progress towards the Heirloom guarantee, or overall in game spending. If you've spent $500 or opened 500 packs you get a heirloom. I think that would be a huge positive for everyone. People who like packs can still buy packs, people who just want to buy individual items they can, can still do so and still make progress towards an heirloom.
If you do open 500 packs, I think overall you'll be happy with what you get. You'll get some stuff you like and want, you'll get some stuff you don't. But overall it balances out.