Well to add more aspects to a tier of endgame, there has to be some stagnation; at 75, we had many events to choose from but limitations on when we could do them, so it was harder to get burned out. I'm sure we'll see more variety at 99. For now, you've got Dynamis and Voidwatch.
The drop rates aren't too bad; the system is set up so that repetition of a VW NM isn't tedious, as long as you get something to make you feel as if you haven't wasted your time, i.e. Heavy Metal or Silver Mirrors. The proc system puts a lot of variety into participation, so that it isn't events of level 75, where you clock in, put in 4 hours, clock out.
They're very exciting and if everyone can keep their attention focused, everyone can get what they want. The Jeuno and Zilart paths also have those nice incentives of new BLM spells if you've already gotten the main Rare/EX drop or whatever.
Where the game is now is good, I believe:
Solo-capable/small group casual event: Walk of Echoes / Dynamis
Low-man familiar event: Abyssea
Full alliance focus super happy fun time event: Voidwatch