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I like the idea. Keeping it as an oath option rather than a new difficulty entirely means it'll be on the same board as the regular runs, so those won't become the new normal mode tab which no one really looks at. I'll admit I've been avoiding s3 boats with the Season of Macha oath (you're all crazy) but if it were replaced with something like this, heck yeah I'd join it every time.
My only concern is low population giving players who aren't strong enough to be trusted by pug hosts for these runs a harder time when it comes to finding a party that will let them in. Maybe if we have a proper server merge or just more people active, it wouldn't be a problem, but the more I think about it the more it seems like coin raids would be the only ones worth doing to endgame players.
edt: Actually I like how GldPhoenix put it. Unstable runes exist, they should be obtainable for free after this event somehow, and that's a totally reasonable way to have it. I'd even consider buying them with nx if they priced down compared to the reusable on success ones.
Just in case they need more information, I'll link this general discussion thread here too since it looks like it's going to get bumped down to page 3 and has some good discussion + hardware reports from users that haven't posted here yet.
He drops the bottles with bravery seals, ap, ore/leather/cloth/orbs, and attack limit release materials.
It's an okay fight, his new pattern has too much invuln time and the ballista minigame is harder now, but not having to wait for a cooldown on his clash is the best.