Not too long ago people were complaining about that FT always wins, regardless of the situation, and now they are complaining that they couldn't defeat a single dragon. That way nothing can ever be good.
Personally I liked the entire tournament, which was to integrate FT back into the world and reassess their position. Nothing complex, but just something very simplistic. I agree that with what followed after that I have some mixed feelings, especially with Future Lucy's and Ultear's death which were a bit too easy, however it became quite apparent the last few chapters that this entire situation with the dragons was less and end of an arc and more a prelude to something way way worse in the future. Having them beat all the dragons now would have been in my opinion illogical and bad considering this is a start of something, not an end. So I find your comment about it being rushed incorrect because as I understand it this wasn't meant to be the the prime focus either way, so it doesn't have to be lengthy as it was means as a prelude, for which it was just enough.
I agree that Ultear's death, if she really died, was a bit stupid and that a few chapters were going a bit overboard with the fanservice and he messed up a bit with all the time traveling. But the tournament on itself was good for me. It introduced several new cool characters and the dragon-parts provided a good basis for future arcs.