I remember when I first started playing this game 3 years ago, I really looked forward to the events. There were a lot fewer people participating back then, and it seemed like just by completing the events I could end up in reward tier 5 (tier 1 being the #1 player) and if I really put in some work over the weekend with a little luck i could get to tier 4 and earn an EHT, which was huge motivation as an F2P player.
Now that so many more people are playing, it takes multiple playthroughs just to make tier 5 and little chance of making tier 4. I would say either expand the number cutoffs per tier or move towards a percentage based system like the raid tournaments.