This is an absolute load of crap and is not true. We have done this with a group of 10 people and it is next to impossible. The event does not scale down at all. And with the number of players you cannot accomplish the goal. This is not meant for small guilds and this needs to be addressed. If 10 people cannot do this due to the 3 minute time frame then I can only imagine the trouble others are going through. From what ive seen the minimum amount of people you seem to need is 20-30 for it to be doable in Gilded Hallow.
Update: We got the Gilded Hollow guys. Thanks for the suggestions and tips. Was a long night with a lot of failures so was definitely feeling the frustration. Thanks everyone!