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I don't care for shinys in the first place. Legendary or not. So I don't bother looking for shiny legendaries. I don't even bother looking for regular shinys.
The reason is because I hate just about all the shiny colorings for every Pokemon, besides about two. Plus once I find a shiny all I do is have it rot in my pc box. I guess I just don't see the thrill.
So since I've never gone shiny hunting all my shiny Pokemon have been random findings. Which I find to be more rewarding in a way. :D plus I always forget how to soft reset. :3
Well, it depends on whether I want the shiny or not, but if I do then yeah, Ill soft reset for static and running for hours at a time till i get it. But its rare for me to like a shiny legendary i like. The only shiny legends i like are Regice and Suicune so its not really worth it.
That's the point of it, though. Once you achieve it, you have a very rare Pokémon which you can trade or show off :P
But I agree that it is a waste of time when there are much faster methods available. I caught a shiny Regice in 10 minutes (including actually capturing it).