I think that's over-cooked. With the right knowledge, 2-3hrs per engineer is almost a leisurely pace - you can combine some of the tasks while playing. So, depending on different peoples idea of a PvP FDL. Felicity, Tod, the Dweller, Selene, Didi, and Cheung gets you access to: https://s.orbis.zone/5bceI would've said considerably more to be honest. 100 hours including getting the basics perhaps.
But it's sooo long ago that I did stuff like unlocking that I really can't say.
I would also recommend not to start in an FdL because that one is very special to fly, and expensive if you die.
And you will die.
G1 Power Plant
G5 Shield & Shield Boosters
G5 Hull & Hull Reinforcements
G5 Power Distributor
G5 Multicannons & Rail Guns
G4 Pulse Lasers
Really, after that you're only adding G5 Thrusters, and more weapon choices.