I apologize for uploading this again. I didn't explain it clear enough so hopefully a much clearer explanation.
To recap, it is a decent way to train up your smithing post-99 and stock up on Alch Machines. Although a more efficient player would choose Rune Ceremonial Swords or daily challenges. Still not a bad choice for exp if you're not superly efficient.
Rune Ceremonial Swords Guide - https://youtu.be/2m1e7wftBE0