Why everyone say Black Friday summon is the best event to summon?

Covenant is more expensive than Solstice/Black Friday and its chest is less interesting. But it depends heavily on what is featured in Covenant. There is 1.6% for featured 5* hero and 0.9% for some 5* that may be useful (The Hatter) or crap (S1, Sargasso). Black Friday has 0.2% for featured heroes (who so far don’t look that great) and 3.6% for anything else. One good thing about SGG flooding the game with recent 5* is that it raises the chance to get recent and decent 5*. Would be good if someone calculated probability of getting something decent but that would take ages just because of establishing what ‘decent’ means.

On pickup portal it heavily depends what is featured. Current Pick Up portal is good, with Hawthorne and Athos, who are both great. But when you have Arco, who was in SE, and Horus, who is only okayish, then the portal is not that great either. It is cheaper though so with 10x the cost can be reduced to $1.3 per pull with 10x or even lower with 30x. I am still waiting for Pick Up portal with super-elementals.

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