The equipment's actually pretty good for it's level. Most of my classes have had their turn at looking like Snow briefly.
In any case, this is being done to celebrate the 1-year anniversary of the game. I'd have preferred that they do something unique, like a "Festival of the Seventh Dawn" to celebrate the new Astral Era (although I admit that that would be kinda unfair to players who hadn't finished the main scenario yet), but I guess they're too focused on 2.4 and other stuff to throw something together.
Perhaps every anniversary will be celebrated by giving another go at that year's exclusive events?