Other spell is Group summon.
can be used in raids, no cooldown requiers atleast 2 players in a Group and atleast 5 players if its a raid, this is to avoid RvR regrouping and stuff.
Reason for cd on normal spell is becuse the game would want you to travel around not summon or skip content crazy fast like, ok quest needs to be delivered there, you tp there i tp you back here(since Another quest or followup is there)
Question system might not be like this thou.
I dunno but i really dislike when players port around but i also hate to travel "to far" but meh its hard to balance games in mmo just becomes bigger and bigger, so it depends how the questing is also and stuff.
Also i dont see the Point in games where you gotta pay for the mount or dont get mount early there is no Point in it! i get that getting faster or cooler looking should cost gold! but normal one should be for free and obtained in early level imo! Tera did this really good.