The way I'm reading this is .. you either beat the wave 3 boss and get one weapon done (after getting the 30m HP thing), or you need 10,000 JP at the 700JP a week rate to get the same effect.
Those in the best dyna-D groups will get theirs done quickly enough (in a week or two?), while the rest will have to set up a tent in Dho/Moh Gates for a few months. Seems about right either way.
"After defeating the Wave 3 boss,
or when the cumulative damage you have inflicted exceeds 30,000,000 HP, the aforementioned key items will transform as follows..."