Yea, I agree. I think that an event like this - They should have gone bigger. Either increase the percentage (nothing crazy, but I might have gone to 10%) or remove the lockouts on legacy raids/dungeons so that people can farm the event more (but keep the lower 5% drop rate).
As it stands I think that there will be a few disappointed people at the end of the event. (And a few that get every drop they were hoping for, but we’ll make faces at them when they aren’t looking 
)