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Warbands was left out intentionally because it isn't a conventional method of training Mining and has a lot of variables, such as dying, forgetting to do them, or not finding an Friends Chat.
Alongside this, there's the time constraint. Warbands only happens once every 7 hours, realistically one would expect to do two per day unless they base their schedule around including Warbands.
Warbands equates to 407,526 xp per day if you successfully complete all three instances with 28 supply crates at 99 Mining. The same xp could be gained from mining Seren Stones for three hours with a Golden Mining Suit, with much less attention required and without the need to schedule. It could also be done while doing various other activities of the player's choice and wouldn't require them to find a competent Friends Chat to do Warbands with. It can also be done for a longer period of time to give more XP per day than Warbands.
For the sake of your argument though, let's assume the player does both Warbands and at least 3 hours of Seren Stones. Without the suit they'd be getting roughly 130k xp/hour at stones, totalling to 390k xp per day. Combine this with the xp from Warbands and they get 797.5k xp per day. From 99, 120 Mining would take 115 days to achieve at this rate. With the Golden Mining Suit this changes to 112 days, meaning it would require over 3x the average time to get the suit for it to no longer be worth getting even in this scenario.
Though, I'm assuming your stance is that manual Mining isn't required at all and can be substituted for Warbands. Only gaining xp via Warbands would take roughly twice as long, given that it makes up a little over half of the XP if you aren't using a Mining suit and a little less than half of the XP if you are.
Assuming you were to do both Mining and Warbands, the difference the suit makes matters even more if you're going for 200m. If 99 is your goal the suit flat out isn't worth it unless you get it extremely quickly, but for level 120 or 200m xp it's very worth it. Personally, I'd love to save 9 hours of my life on top of what I'd save from doing Warbands.
There. An objective analysis of Warbands and the Mining suit both with and without each other. If any of my information is wrong do let me know, as I did the math kind of on the fly and there very well could be mistakes. I didn't ignore Warbands because I'm not objective, I ignored it because the main purpose of the video was to show whether or not the suit is worth it for those that want to train Mining in a more conventional fashion.
EDIT: I just learned that Warbands only grants a maximum of 75 Supplies per day. I did my calculations based off of 3 sets of 28, however I'll leave them as they are for now because this actually favors Warbands.