Well, no. CF gives bonuses to all applicable Rewards, including Story, Side, and Bonus Quests.
If you choose not to farm RQs, CF can still be of value especially if you are a freeroller, there are a useful number f Quests that pay Diamonds that get boosted by CF. This will help with Diamond Expansions.
If I were starting a new city and was not going to farm RQs, I would not not build a CF until I had assures that I could do DCs, 64 GE, and go deep in GBG.
Which is exactly the approach I took in my most recent city.
My bona fides? I started five years ago. I started a new city three years ago, again last year. Both of those were documented in Glarg's Guide on starting a new city. And, yeah, I am an expert on how to start new cities.
----------
Completely unsolicited advice, do with it what you will. Being in EMA and only producing 20 additional FP per day is a sign that you may be moving through the tech tree too fast,
You might consider slowing down your tech climb a bit. This game requires players to either take a fair amount of time in each Era building up capability or reach a point where the city is woefully unprepared for facing the ever increasing difficulty of GE, GBG, DCs, Quests, Events, Tech and CMap progress.
----------
More unsolicited advice. You need to stop this:
You don't know how to say you are wrong. Worse, you can't seem to recognize the fact that when multiple long term players tell you something fundamental about the game that disagree with what you think you; are the one who is almost certainly wrong.
I first noticed this about you in the thread in bugs where you were completely wrong, a n00b arguing with folk who are expert (the first respondent wrote the best Guide on this forum), and carried it over into the silly argument about flipping GBs.
You need to be a lot more graceful. This game is a social game, if you treat Guildies the way you treat folk on this forum you'll have a tough time staying in any Guild worth being in.
Your first post in this thread was almost entirely a statement indicting lng term players for not understanding starting a new city, then you asked for help.
Just who do you think can answer this sort of questions? The folk who have played for years? Or other new players?
More grace, less shitty attitude.