This issue started when the Devil's Roar received it's first major nerf shortly after the initial Forsaken Shores release, it got worse with Shrouded Spoils, and has been going downhill ever since I think.
There is too much high value loot to be gained in short periods of time these days.
Progression seemingly becomes more and more broken with each update. When Shrouded Spoils released, forts became constantly available - players stopped fighting for them, and they became something that anyone could just farm with absolutely no danger or hardship apart from the time it takes to slash away at skeletons - Anyone can see that the Fort of the Damned is an attempt to bring back the old fort PvP.
Standard Stronghold hauls used to be a sight to behold, now when you lay eyes on them, it's numbing because of how common it's become. The progression curves and heavy gold wallets are very telling - players can become Legends in no time with little effort. Over-pricing items for gold in Duke's Black Market helps to some extent. New cosmetics are nice, but it's really just force-draining the gold from players' wallets by releasing one new set a month - even then, rep is still broken.
It's gotten to the point where rare loot (that isn't really rare anymore) has just become so prevalent that nobody cares about it.
So in order to get players to engage with new events, you're having to add more value.... and add more value... and add more value... and you're going to reach a point where there's nothing of higher value you can add - and by then, all progression will be ruined.
So what will entice players for the next big thing? Three Athena Chests? Athena's Fortune voyages are on their way to becoming obsolete now with the Fort of the Damned - and I predict Athena's will suffer the same fate as Stronghold loot. I've already seen posts where people have stacked 4 or 5 Fort of the Damned hauls at once. People will no longer care to steal these once the dust settles on the Fort of the Damned and engagement with the event calms down.
In Summary
Perhaps gold and rep gains across the board should be decreased, maybe it's time to rebalance the rewards for every activity in the game and re-establish the base-line for what players consider worthwhile. Something needs to happen, because the loot bubble is close to popping and there is almost no room to add value to an activity without breaking progression completely. - ultimately what will happen when people reach Legend and Athena 10 quickly and easily is that nobody will have incentive to steal or engage with anything on the Sea of Thieves.
Disclaimer:
I think the Fort of the Damned is a splendid addition to the game and Rare did a fantastic job - I've had a lot of fun so far. I am outlining a larger issue though that may affect the game as a whole.
