Does Wild Companion ignore the 1 hour cast time of Find Familiar?

Druid Optional class feature in Tasha’s Cauldron of Everything, Wild Companion, states:

You gain the ability to summon a spirit that assumes an animal form: as an action, you can expend a use of your Wild Shape feature to cast the find familiar spell, without material components.
When you cast the spell in this way, the familiar is a fey instead of a beast, and the familiar disappears after a number of hours equal to half your druid level.

Find Familiar states:

Casting Time: 1 hour
Range: 10 feet
Components: V S M (10 gp worth of charcoal, incense, and herbs that must be consumed by fire in a brass brazier)

Does this mean that a level 2 Druid has to spend 1 hour to get a Familiar for 1 hour? Does this mean that the Druid can cast a Familiar much faster than a Warlock can?