Here's how I look at it. There are two numbers to be concerned with.
5 seconds
39 seconds
5 seconds: This is how long our crew said it took for the flight deck to fill with smoke after an engine #1 LRD activation. Visibility was so restricted that they couldn't see the instrument panel. Thankfully the HGS was down and the projection distance short enough that it was still visible through the smoke.
39 seconds: According to the Mentour pilot video, the combination of chemicals in the smoke could cause death in as little as 39 seconds.
So put yourself in Reno, Nevada at night. At rotation you strike a turkey vulture in #1 and LRD activates.
Now you have to somehow fly this overly complex single engine procedure, get the O2 mask on and establish communications, all while the cockpit is filling with smoke and you can't see the panel. (Could you see the iPad to find the relevant turns on the procedure?)
So let's assume you prioritize aircraft control over all else and you don't get the masks on right away. I would assume there's some mental degradation the further you get into that 39 seconds.
You see where I'm getting at here. Boeing's procedure is inadequate because in this case you will probably fly about 2 minutes or more before you get to the QRC items on the engine fire severe damage or separation checklist and get the fire handle pulled - provided your flying partner can even identify the correct handle in zero visibility.
Boeing's procedure is inadequate for the circumstance, whereas shutting off the bleed valves would stop the smoke at its source much quicker.
I would never advocate for making up a procedure on the fly but Boeing has dropped the ball here and, other than APA, I don't see any airlines or unions picking it up and running with it.
Boeing says an EEC update is coming that would automatically shut the bleed valves following an LRD activation. But who knows how long that'll take. Until then, we have the benefit of thinking and talking about how we would tackle this problem in advance.
5 seconds and 39 seconds.