My opinion is that it was bordering on absolutely terrible: I returned after a large break only to see it being the reason I hate modern games (fast levelling and giving raid gear like in LOTRO).
Pros:
more people logging on.
Cons:
an alternative to offline levelling on bosses - some level-16 characters in NG jumping to over 22 with not much contribution;
almost no T1 and T2 raids occured, let alone grouping at all;
boring kills with no tactics;
high rewards;
2000ms lag and 2FPS.
Personally, I see NOTHING good at all in the event. Maybe people with the 10th character of the same class had fun levelling it faster than expected, but I am not such a person.
If it lasted for 10 more days, people would burn out completely and get bored with all their rewards and running from place to place doing almost nothing to kill bosses equal to Chatha in reward.
Overall: it is a very bad job! I also noticed a change in AAs. This is not a smart move at all. AAs are a learning and progression curve for players. Leave it as it was. People enjoy doing sometihng like Atzel runs and raids to become stronger with time.