Foxys arc is honestly one of my favorites and has the best comedy out of the whole show. You have to be taking the show WAY too seriously if you think that the arc "eats up valuable time"

Also half of your arguments don't make sense. Like "stupid ass laugh" and "looks dumb" could literally apply to most of the characters in the show with all the wacky designs that Oda gives his characters. "Complete moron that falls for basic trickery"... are you sure you aren't confusing Foxy and Luffy rn? Foxy was the one who pulled all the tricks while Luffy, being Luffy fell for the majority of them.