The donut earring reminds me of those carnival prizes that are only like 5 tickets or whatever. That tacky junk your kid brother gets because he couldn't get a hefty amount of tickets. It's up there with plastic spider rings. I don't like it, and it'd just take up space in my glam dresser, so I won't bother with it.
That being said, the whole rest of the reward shop is -- as always -- stuff that's existed for years. I feel like... unless you're really really new, you probably would've gotten this stuff by now if you actually wanted it. But looking at the actual content, it seems like it's geared towards new people. Crystal tower is once again the alliance raid. Most of the battle content is heavensward or lower, too, so I hope you like being synced down to level 60 in a game that caps at 100. They even lowered the number of tomes you get for the content; 24-man alliance raids giving 3 (the same amount as a 4man dungeon) is such a joke. What did they think, that rewarding less would keep people playing longer? You need worthwhile rewards for that. There's actually nothing in the shop that I care about. A long time ago, they put emotes that couldn't be purchased on the marketboard and were locked behind like... Eureka or whatever, and that was pretty lit. But I guess people complained, because we've never seen anything that good since.
Also, maps are terrible content. It's just trash mobs with a randomness element to it. I doze off doing maps. I'm not doing it for this event.

It's frustrating because this isn't a hard thing to get right. Widen the scope of content that gives mogtome rewards (why only one 24man set? why is it never anything at max level? why only the normal mode content), scale the rewards accordingly (something that takes more time to win should give more tomes), and then pump the shop with things people actually want (you could literally hold a poll and it'd be better than the random guesswork at play here atm). And here's a novel idea: don't drop a mid event full of mid prizes a week after putting some fire emote in the cash shop. If I didn't know any better I'd think this were a f2p game with how slowly the content rolls out, and the way all the """free""" content pales in comparison to the cash shop. Really think about it. The new item that's earnable in game is a tacky donut ring, but the newest cash shop item is an emote where you fry an egg on a skillet. This should've been swapped.