Bungie's event.... grind 48 Ketch Crashes or 148 Lost Sectors. At least the Drifter isn't promising to make you rich!
The fatigue has already shown up for most of the destiny community for this season. Why add to that. A patch will definitely be coming when not enough of the community does this event.
Will anyone participate or will this be a ghost town event
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The problem with the event aside from missing out on a ghost shell, there's no community failure. Even if everyone in the game stopped playing now, the event would still complete 100% because Bungie has a narrative reason for the Quarter to be completly rebuilt. If you care about the personal loot go for it, but the community goal will be reached without needing any player involvement at all.