I did think in the first “omg, all these hats and stuff only for new players”. Then I stopped to think a bit.
“What if” it was something intended for new players to sell to old players so they can catch up a bit more by selling unique stuff that only they would get?
But aside from this, for everything else, I kinda agree with you, the event is good, but “limited”. In all, I feel that’s the way it was designed, “bring new players” but maybe without looking at the current player base (or surprisingly looking at the player base if they saw a good amount of people starting, few days ago I was helping a friend starting the game, but I wouldn’t assume too much here).
I feel it would be better if one old player got the unique permanent rewards if they invited the new players based on the new player progression. Like, once the player reaches Lv.260 the old player will get the same hat. This would kinda prevent people doing alts for the unique rewards and would give a “recruiting” feeling while making the player who invited someone actually help that person which could make the new player stay for a bit more.
theyll prolly overlvl us with those many 8x Tomes O.O