It's a seasonal Holiday event, it's just a little something you can do for fun if you want the rewards and Achievements granted by it. I do them because I like seasonal events and I'm a little sad that I missed out on getting the New Years housing items, since I had no idea there were housing items during that event until after it was finished, because they weren't part of the actual event quests and I apparently must have overlooked the vendor.

It isn't something anyone has to participate in, but some people (like me) enjoy doing them regardless of what the rewards are. It honestly doesn't matter that much. I enjoy collecting season event stuff since back when I used to play FFXI.