We have traditionally run a Secret Santa Christmas event every year. It was my absolute favourite community event. Everyone gets dressed up, we dress the house up and give sit around Santa to give our gifts.
By far the most popular gifts were mounts and minions. I cannot think of one incident in all the years we've been doing this that someone bought something for someone that already had it. You simply check your recipients lodestone or those collectors sites to see what people already have before you buy.
The reason Mog gifts were so popular is because we have a large community of casual players who just have not got enough gil to buy what they'd like. Working professionals who'd rather spend money.
We also had our community split in half with players leaving for OCE while the rest of us stayed on NA for various raid committments. Mogstation gifts would have let us still run our event cross region (if people chose to use Mog, I would have organised an "either or" for cross region.)
Now it's like, we've split up, we can't give gifts other than fantasia or dye... do we bother? It just feels like the FU icing on top of the crap cake that is being an OCE player this year.
Just a rant. I know SE will change nothing.