A lot of articles say that hash tree traversal cost to any randomly chosen leaf is $\mathcal{O}(\log_2 N)$ ($N$ is a number of leafs) and that is right. If we have a tree of 8 leafs it will take us at most 3 operations to get to any leaf, if we have a tree of 64 leafs it will take us at most 5 operations etc.
But lets say I need to check every leaf sequentially to check if all blocks of a file are correct, then I would need $\mathcal{O}(N \log_2 N)$ operations. Or if I would check every second leaf (just left leaf of every pair) I would need $\mathcal{O}((\frac{N\log_2 N}{2}))$ operations. That is, I will need $\mathcal{O}(\log_2 N)$ operations for every leaf? Which leads to exponentially growing evaluations curve and it would be better to use simple hash list or hash chain? Am I right?
Or I just don't see/know something?
*Note, chart has logarithmic scale