While we're in here talking about the event and how it works, let me just say this event should be running all the time, with rewards and content tied to it cycled regularly to hold interest. This game was dry and crusty until 1 AM when the event launched, then all of a sudden people were logging on who hadn't been on in a week+, and dudes I know who normally spend all day gooning were actually making groups to go and play the game.
Game's got over a decade of content in it and the devs give their players -no- reason to backtrack and engage with any of it once it stops being relevant; they'd rather sit and do nothing for months at a time while players unsub and quit during the 4 month content gaps. It's gamedev malpractice. And it's not even hard to do. Just do more mogtome events. Don't even gotta reinvent the wheel. There's no reason to make these so rare when you offer basically nothing else in terms of "events that incentivize playing the older content available," but I digress.

I didn't mind the rewards this time, personally. Back when I played au ra, the earrings felt like a nothingburger, but ever since I fanta'd I've enjoyed them a lot more. I think ... in a perfect world, these events would be monthly, and there would be multiple unique/new items put into them. I don't think this is a terrible ask, but I know that our current devteam is given a skeleton crew because the parent company is cheap. This isn't meant to excuse them; it's just the apparent reality according to what's said and what isn't said in various interviews and things. But yeah, my "feedback" on this is that I want more events like these. Hell, take the Khloe book and just make it a permanent fixture tied to everyone's character. Then adjust the rewards so people wanna do it for more than the EXP/jackpot odds. idk. Just give my friends a reason to log back in.