Is it me, or is this process taking a horribly long time before everything is distributed and liquidated?
The longer it takes the more it generates revenue for liquidator et al and they will make sure to exhaust any value leftover to secure their fees. That is their priority and then they see what's left for the creditor. This process can go on until the trust is wound up and can last years depending on the complexity of the case. Cryptopia seems to have taken a bit longer than the norm probably due to the amount of accounts there and a time threshold for holders to engage with the claims process.
That would be the easy answer but it wouldn't explain why Cryptopia's liquidators are dawdling, and BlockFI's are not.
I've come to understood that Cryptopia had many anonymous accounts for which (time-consuming) ID checks where necessary, while BlockFI's clients are all KYC'ed. Sounds like a reasonable explanation.