The object of the new event is to fuck Scrooge's shit up. After you fuck his shit up, Santa gives you a large candy-cane, and a new emote.
Life continues.
Perhaps the most thrilling part of the quest is the addition of the "Particles" section to the graphics interface. This was introduced due to the falling snow they added into the event. Perhaps this means we'll finally be getting some rain later? Some hail? Blood falling from the skies? Yay for particles.