I feel for ya, but the single-page guide on the event specifically stated the three items you'd receive in exchange for doing a quest and two FATEs. I haven't seen all of the special events, since I'm fairly new (my first was Make it Rain this year), but the ones I have seen so far would lead me to believe that 'one quest and a couple items' can certainly be the entirety of content in a seasonal event.
As for it not being more 'Dragon Quest-y' I do agree. The DQ font on the 'quest accepted' was a cool touch, tho.
IMVHO if you're going to drop cash on something - anything - you should know what you're paying for. It's your prerogative to buy before knowing, but then you gotta own the remorse. /shrug