Must admit I misread option 2 as being a 20 minute Starr Gate - Fleetwood via North Station and a
20 minute Starr Gate - Bispham service

.
But yes having re-read that, I do think with the limited resources at their disposal a 15 minute end to end with every trip going via the Station would be the best option. It would mean spreading the loadings evenly again, and getting on a tram going via North Station, taking 12 minutes would still be preferable to most people I think than the current situation of either waiting for the direct service - people didn't look at all impressed when they were getting off to change trams and being told the next one was 15 minutes away.
It is a shame they're still seemingly insisting on giving them 5 minutes running time each way, most trams were taking barely 1.5 minutes to do it, then sitting for a while at North Pier and often leaving early.
Presumably with option 1 there would be a much earlier service arriving at North Station from Fleetwood, and it would also make the services from North Station itself more attractive. Like I say, I witnessed a family turn up from the train with suitcases wanting to go south, and when the conductor told them they'd have a 25 minute wait - they walked away...
I had been tolerating the 15 minute frequency last year as I was starting to think maybe when the extension opened, the North Station trams would supplement them every 15 minutes to give a 7.5 minute frequency in the Pleasure Beach - Bispham section. Certainly all of the materials I'd read said that the North Station services would be used to provide additional capacity along the busy promenade sections, so we've still got a long way to go I think.
Hopefully they can make some adjustments as soon as possible, though I'm sure they'll have to provide a certain period of notice for duty and roster changes to their crew, so I fear we may not see any changes in the near future.