I think this system is good:

Positives:
It gives all players something to do, that is low stakes (this is very important, a lot of players simply had nothing to do outside of big events).
The key system was really cool.
It drives a lot of interest in the community, to find the NM, to figure out what drops what, to argue about the stats etc
It allows player interaction, grouping up for these is a good thing even if it's just random chitchat while camping.
I like that the lower NM are timed, and the higher ones are lottery.

I hope you add more NM like this (even to Escha, Reisenjima etc), even to other areas. Things like earrings, neck pieces etc, other armor sets

Negatives:
There is no current word on the augment system, there really does need to be (even if just a teaser). Especially if this idea was dropped, cause a lot of people camped them specifically because of that, so they will be very annoyed if it's not happening.
They look the same as older gear, not even a recolor. This reduces the excitement of it, cause you've seen your character wearing it before.

I hope we can use different colors of this armor when we augment it, this would be very important (maybe with aptants). The other color variants already exist, red / black / white variants are already there.

I hope the augment system requires drops, that also come from the same NM and work like dark matter (but with different augments, based on the type of gear). That way the small community interaction aspect continues, and newer players can still get help to camp/kill them. Some randomness in min/max stats (and maybe some rare stats, like refresh 2 on escha gear) makes sure everyone doesn't just cap them in a week and never goes near them again.

I think it needs to be kept in mind that corsair and ranger are often used as a melee job now, with savage blade. So those jobs should probably be added to Olorun.