The rewards are similar to a CoF P1 run but the difficulty is harder than any guild challenge, and then it’s also supposed to be an open world event where any new level 60 player can waltz in and participate.
Either make it easier so the rewards and requirement for participation reflect the challenge, or make it instanced for guilds only with better rewards. Right now people are only doing it for the challenge.
I’d suggest before you touch the boss itself, fix the darn bugged turrets, water wave glitch and think about opening up the closest WP.