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The event is definitely well lacking in content. But that's to be expected, the whole game is lacking in content.
Devs are working hard to solve that problem and I prefer them to concentrate on 1.19 than on an event people won't care about in 2 weeks.
I've played WoW since Vanilla til recently. The holiday vents are really no better. Maybe the added achievements added another dimension..but really it is all fluff for fun no matter what.
WoW offers boss fights that ARE NOT challenging in any way - they're ridiculously easy at this point and now that you use dungeon finder there is no sense of accomplishment or community when doing it. You warp in, quickly kill some mediocre boss with random people, get your loot sack and warp out. How is that better than the swimsuit event? I'm not saying FF's events are terribly amazing, but I like them well enough.
WoW events also offer more items - purples of no value! WooOOOO. You also fight the same boss year after year for the most part. So not impressive if you ask me. Really it's nice any game has holiday events for added fun and whimsical items, not sure why anyone would compare WoW to anything event wise. WoW's events are so repetitive, just like most others.
WoW events are all right, but achievements ruined them for me since they always have some PvP or raid you have to do to get them all, and I think seasonal events shouldn't be exclusionary. And that's how XIV events have been. I think they should aim for events that are possible for a brand new player to complete, instead of events that are a boring cakewalk for rank 50 players and impossible for rank 1 players to do on their own.