I'm still a super new player (and prone to asking dumb questions on forums, feel free to reply with your favorite "beating a dead horse" GIF), so I only have 4 Empire characters and can't participate in the event. I could get the magmatrooper tomorrow with GW credits to get a team of 5, but two of them would only be 1* and there's not much hope of getting that improved before the event ends. There's no point trying to participate now, right? It will roll around again sometime in the future?
More generally, should I just ignore events like this until I'm in a good rhythm, or is there an advantage to working toward certain ones now?