Is Turning Red my favorite movie? No. Did we watch it and enjoy it? Yes. So, I guess, why am I participating in the event?
Three reasons:
(1) there is a ton of happiness up for grabs with the event. At the end of the season, I want to know I did everything possible to get Dug at tier 150 and didn't leave anything on the table, so to speak.
(2) I am a completist and want every character from every collection along with every costume, attraction, etc. There's a lot of IP in the game I don't care for, but I still work to get everything from that collection. (The upcoming rumored Hocus Pocus is in that camp...the movie is fine, but I don't think it deserves to be on the level some folks put it on.)
(3) At some point in the future, Turning Red will be the helper or extra character/s in an event or challenge or whatever. If I passed up getting them during the event and I don't have them at that point, I'm going to kick myself in the butt.