Reputation earned is not an issue as you can acquire that in less than an hour. However, the Particpate in a Community Feast aspect of it really needs another look.
From what I’m hearing, its a ~10 min window to complete that has a 3 hours reset time. That is a VERY small window for most people to complete. The event needs to happen a lot more often, or completion of that part needs to be something else because this isn’t it.
Another thing that is troubling is that you need to have renown level 3 with Iskaara to even participate in the feast at all, yet every alt I have made gets this quest at level 60 with no renown progress. The quest objective mentions nothing about renown requirements either.
Also, you have no way to track when the event starts again in game so most players who don’t use WoWhead (yes, many players don’t) will have no idea when this event starts.