Is the ribbon ability of a transmutation wizard underpowered when compared to other wizard subclass ribbons?

I feel the casting limitations on a transmuter’s minor alchemy make it much less able to be used in typical play, as compared to a conjuration wizard’s minor conjuration, an evocation wizard’s sculpt spells, or even an illusion wizard’s improved minor illusion (which is still pretty bad, but better than 10 minutes cast time).

The text for minor alchemy is as follows:

Starting at 2nd level when you select this school, you can temporarily alter the physical properties of one nonmagical object, changing it from one substance into another. You perform a special alchemical procedure on one object composed entirely of wood, stone (but not a gemstone), iron, copper, or silver, transforming it into a different one of those materials. For each 10 minutes you spend performing the procedure, you can transform up to 1 cubic foot of material. After 1 hour, or until you lose your concentration (as if you were concentrating on a spell), the material reverts to its original substance.

To clarify; I’ve taken ribbon to be the second level feature of the wizard subclasses that aren’t their savantism.

Am I mistaken or is there an imbalance here?