If the general bulk of appreciable-quantity tech investors suddenly found out in granular detail what is actually being done with their money as opposed to what they were told, it would probably cause the biggest crash since the Great Depression.
You don’t need a separate account to play Leagues or any other temporary game modes. You are correct however that you do need to pay a separate membership for each character unless you’re okay with that character only being able to do F2P activities.
That’s because Epic doesn’t have any money
The real news story here is that The Elder Scrolls Legends existed in the first place.