No, not at all, those of us who are in there do reap the benefits of any dropped scrolls where as those who join late do not. And we all know that sought after scrolls are the harder to get than seals or shards.
Its much much better than sitting around for an hour, waiting for everyone to be on the same page.
Really, now that raid tokens can be changed to dungeon tokens, I doubt people will even bother with the quests that much--I think I've only done one Epic quest since the announcement was made.