Not really cause its a single player game with co-op added to it to play with friends. Just you will get a good long grind around a certain lvl and daily task. Also to max out and get everyone will take forever or pay allot of money but not needed. I was a casual player for Genshin its a fun game to kill some time in but nothing i grind for or put effort like some other people did.
i dont think theres ever an expiration date, maybe the only setback is that youre not caught up to the fandom yet but on the other hand theres more content for you to enjoy rather than starting it early and having to wait for story updates every month etc so no its not too late. just enjoy yourself. all characters will eventually have a rerun anyway