"Giving players either a free Relic or Ancestry Paragon. Are these equal choices?"
It really doesn't depend on the ancestry: some I struggle to find enough to take feats I like with the normal amount of ancestry feats and some I wouldn't have enough with Paragon to take all I'd want.
Relics can enable your character concept quicker: at 1st level you can have Return on a throwing weapon for instance, meaning your thrown build works right out of the box using a single weapon.
These are good points. On one hand I could say that Ancestry Paragon is meant for people who want to focus on an ancestry's theme. For instance: I would love to run a paragon kitsune. On the other hand, it does make me wonder if I should sweeten things by giving players a free Adopted Ancestry feat to give them more options. Or perhaps I could let them take Adopted Ancestry in place of one of the 1st level ancestry feats? Hmmm.