Let's try and drop some logic bombs here....
I am fine with some things being shard bound, I guess, as long as they are obtainable on all shards, like the new eodon stealables. We can all get them on our shards, so who really cares right? Now, when it comes to items such as this lantern then it is a poor plan. This game is unique from others due to it's versatility in what we can do with things, most notably of course is the housing and display system. If I attended these events, participated in them, and turned in a summary book at the end then why did I not earn the same rights to do with my item what the people with a house on Sonoma have? If I prefer to lock my lantern down in my LA house and be proud of it everytime I log in instead of everytime I happen to look at it in my backpack when I'm on that character on Sonoma then why shouldn't I have that option? I literally took nothing from anybody by earning this item through my own time and effort. At the end of the day all this policy does is discourage participation, and what kind of backwards logic is used by a game developer of an MMORPG (a dying one at that) to do anything which DISCOURAGES players from playing? ....
Should we all really be surprised though? There have been other highly questionable and unreasonable things implemented in this game. I always love to reference the absolute travesty of a decision to say glacial hued items are fine while ethereal ones are not. They were created the exact same way. One is fine. One is not. It is like saying counterfeit $10s are cool but counterfeit $20s aren't.
I really feel bad for Nails with this new promotion policy. He has created a fantastic tribute museum to the many different ranks from various promotions from all the different shards throughout the years and now that is being cut off. If there is really one thing that keeps people playing and coming back to this game it is nostalgia, and I feel this change will cut away at it.