I have several problems with this event.

Firstly: it over-involves FATEs. There are a great deal of us that have done over 5,000 FATEs in the course of our game time and are plenty sick of them at this point and the event is like a kick in the gut.

Secondly: RNG. While the drop rate is fairly high, at about 30%, it does not change the fact that the possibility of someone not getting the mount even after pouring more than enough time and effort into it continuously is present.

Third: the time needed. Some of us have many things to do during the day and only have between 2-5 hours of play a day.
If we want that mount we would then have to sacrifice other content of the game so we can even get a chance at getting that mount. Daily roulettes? Nah, just run 1 or 2 of them so you have time to FATE grind.
Crafting? Nope, takes too much time to get all mats if avoiding Market board, gotta FATE grind. Getting scripts and daily hunts/hand-ins? Dude, you have no time, gotta FATE grind. Beast tribes? Got. to. FATE. grind.
Doing content with friends or weeklies? Hahahahaha, no way man, gotta FATE grind. Palace of the Dead or Moonfire Faire? Sacrifice a little more of the above content for Faire and forget the Palace, gotta FATE grind.
This is of course for those with little time. It would not be so bad but the event has an expiration date.

And those are the problems I have this event in my opinion, please don't shoot me, its just my view of it. I would have enjoyed it much more if GATEs had a hand to play in the event, but we are stuck with just regular FATEs.