The event idea is sound but there's little insintive for players to actually play along. Leading to a lot of duels against the usual meta decks instead of the event challenge decks.
While I know why they did it (to avoid screwing over new players). This didn't exactly work out the way we hoped. It's basically just KC cup at this point.
Konami did screw over new players by matching them up against Plat, Legend, & KOG. All Konami had to do was make us all play their loaner decks that would fit the monster type theme.