I would only very loosely use the word 'quest' to describe this development. Even in the game it gives messages referring to it as an 'event' (if you log out while in the area, it says you have been removed from the 'event').

I like to think that this will take on a larger significance than the carnival mini games. While some of those are pretty fun, and soccer/basketball have gotten better with time, the potential for an open-area baddy killing spree is extreme. Timed 'survival' mode might be a neat development - something like 'spider pit' but with a much larger area and the ability to fight back