It's clear and simple to realize this fact that Lilith has terrible event designers. I will give a brief argument as following focused on two points:
1. $99 is more valuable in America than 99rmb in China.
Very simple and typical example: in China, you buy 15 gallons of gasoline for about 300-400rmb, while in US you can buy 15 gallons of gasoline for just about 40 dollars in most of the places.
In China, an A&F t-shirt worths hundreds of rmbs, while it only worths 30 dollars in US.
More examples are available to make this easy-to-understand point easier to understand. If you thought US people would pay 99 dollars to buy the event just like Chinese people would pay 99rmb, you thought wrong.
2. A 3-star hero values less in a 7-star-as-max environment
In Chinese version of soul hunters(dot arena), the maximum star quantity is 5. Well, with that star cap a 3-star hero can be more useful while it is just so useless in soul hunters because the 7-star heroes could beat the sh1t out of a 3-star hero in most of the cases.
What does it imply when you consider it with the first point? Well, you pay more, yet you get a less useful hero in the event. That's why people are not willing to buy it. I talked to many of VIP15 players in my guild, none of them bought kaneq in last event.
People do understand that a game company needs to make profit. And it's legit and natural as a business. However, when you cannot design proper events, it's just a lose-lose situation that players aren't happy about the event and willing to pay, and the company cannot maximize the revenue.
So think about it, fire your event designer, and hire someone else who knows better about behavior economics and the real value of American dollars in the market. How about hiring me? I'm obviously better than your current event designer, hehe.