Not really, from what i have seen described, its a crappy public event you can activate that only one person gets decent rewards out of. Its like my idea, but it is the worst possible way to do it, in the most perverted sense of the terms.
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Everybody gets rewards, just not the best. And you or someone around the event area instigate it by using a rune.
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I choose to remain pessimistic until i actually play it. Bungie has a tendency to say one thing and do something totally different. So we shall see, but still in the end, its not a world boss, its a public event that you activate, its a step in the right direction for public events, as waiting for them sucks. Especially when they do not show up when they are supposed to.
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I understand what you mean. But the rune event is already implemented into TTK. Gameplay has been shown and it looks good to me. A chance for decent gear and weapons, as well as getting to find the new materials and explore a bit.
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Again we shall see, they could alter it just before release.
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It's high lvl patrol with bosses we get to summon and still chances at good loot but yea its not exactly what you said but close