As one of the players "raging" about this, I need to clarify it's not about the level of rewards for me. Plarium is free to increase or decrease them as they see fit, and I've defended some of their unpopular changes before (20 sacred guaranteed champ, the plarium points program, etc).
The thing that bothers me is the twisting of words that goes on. Some might even call it gaslighting.
An "event" is, and always has been, an additional thing to do that gives you additional rewards. If they announce an event that's crappy (like Elhain's path), I just ignore it. But the titan "event" isn't an event, because its only value comes from cannibalizing other events. Same with the points program. I'm completely fine with it in principle, but they announce it as something exciting and good, while in reality it's a considerable net loss of rewards we get from running tournaments.
For many gamers the whole gacha model is highly controversial. I accept it as one valid way of making a profit. What I don't accept is lying to and misleading the playerbase, and adding long chains of pointless currency conversions to obfuscate the actual value we're getting from an event. And there are many gachas out there that turn a profit without doing any of that.