Well, I see your point Ryuk. I usually try to think of things that will mostly be noob friendly but just like how non donation last man standing is supposed to be new player friendly we will always have more geared people going towards it. Even in the Anhillation event the people who win are the people who do have more gear outside of that event.
While this event having good rewards would attract more geared players it would probably also decrease many things.
1. The problem we're having with woe guilds. In this event it would be needed to have a big guild to get to capture. Increasing the size of guilds would increase the size of participation from guilds in regular woe to maybe instead of smaller guilds joining in.
2. Introducing bigger rewards would like I've said before decrease the price of emperiums, golden valkyrie helms, and some of the other ones.
3. This could actually be useful to new players as an event since now reading some ideas and thinking of this response already found some plot holes in benefits. (Thank you for the brain blast :P)
Ill be editing my main post under the ~Edit~ area with some possible item drops and Idea fixes.