Am I missing something? I thought this game was MMORPG, not a MOBA or RTS or any other "esports" competitive game. Of course, someone who has put in time and money in the game will win these events, as with all the other MMORPGs. Even games like WoW, how do you win if you have a shit lvl 50 gear against someone who has max lvl gear? The lvl 50 character could have so called "godlike mechanics and skills" but he will never match up against fully geared character. That's just the nature of MMORPG.
Now, this being a real money based game, the actual difference in skill comes from how you manage your bankroll IMO. It's just fundamentally different game from all the other games, and that's exactly what's so special about Entropia Universe. In the end, this game is how you make it to be, whether it's trying to profit, skill up as fast as possible, socialize, setting a specific goal for yourself, etc. This game's goal isn't about winning an event.
Events are made so people can have fun, and if you aren't having fun, you're not forced to participate in it
And of course, I do believe low end gear can still win, but just require A LOT of luck
It isn't impossible. It may be 0.000001%, but it isn't 0% ^^
If you want a high skill based game, go play CSGO, Dota, League, or Starcraft. If you want a real money based MMORPG, this game provides that.