As a known power trader, these are the reasons why I did not participate.
1. Current contracts and in-house work to be done. I have 2 POBs that are constantly hungry and contracts needing worked.
2. Wasn't profitable enough... only because my contracts pay me more. Otherwise the event is generous to those who don't have contracts or indies.
3. Events usually draw in the worst. I actually enjoy browsing through mercs for escorts, dealing with pirates (and paying them... I even tip for good RP and not the vanilla gib money). But I've been part of too many events in the past where I get pirated in every system along the way or even told to drop all of my cargo in the finishing system. I've placed reports with nothing happening, so I just avoid the headache.
4. Real life. Yup, that thing we do besides flying fake space ships in fake space. Holidays are coming up with events happening every weekend. yolo
Overall I thought the event made good role play sense and I enjoyed reading about stages of the trade route, not just a pickup and delivery. I would have felt a sense of accomplishment by making the runs. Unfortunately, until this community sees more effectiveness in our server staff in curbing rule breakers, I and many others choose to not participate.
It ain't about what you are capable of, it's about what you're willing to do.