After playing every four hours for a week, I managed to complete the score match reward tier that earns me the event-exclusive SR Umi Sonoda--with a couple days to spare. In less than an hour the event will end, and I'll also get an additional event reward based on my overall rank.
Event participation definitely makes the game more interesting; what I'm less certain of is whether I'd ever aim for an event card again. In a way I'm glad it's over--it means I can go back to choosing what songs to play in order to progress the story (i.e. unlock more songs).
Plus, I've saved up enough love gems for a 10+1 Honor Scout. In the brief window between the month's two events, there is apparently a buff to Honor Scouting that guarantees at least one SR. I suppose it's all they can do to keep the drip feed enticing. The first rare was literally free.