It was incredible marketing for the game. I remember all the gaming press wrote about it. It would just inspire you to try to play the game.
If someone made an MMO today, it would make sense to stage similar events to get some nice viral marketing. The 'corrupted blood' incident in World of Warcraft gave the game a lot of free marketing even in normal press - who loved to write about it. From what I understand (many?) players enjoyed the few days of chaos too. https://en.wikipedia.org/wiki/Corrupted_Blood_incident
It really wasnt fun in the event the fun part was how it spread all over so fast afterwards and peoples reactions, the ingame experience for most was just dying over and over again :)
If someone made an MMO today, it would make sense to stage similar events to get some nice viral marketing. The 'corrupted blood' incident in World of Warcraft gave the game a lot of free marketing even in normal press - who loved to write about it. From what I understand (many?) players enjoyed the few days of chaos too. https://en.wikipedia.org/wiki/Corrupted_Blood_incident