Actually I have come to think of something beside the obvious reasons stated about the extravaganza not beeing discussed in the countless other threads on this forum and the official.
Nowadays the extravaganza is not in the spirit of fishing any longer.
We who like to fish don't mind , relax a bit - drink some Captain rumseys lager and sit down to pull up some fish
We can fish forever not even thinking about rewards or rares just sit down for the relaxation and everything we fish up is a bonus.
The competition are supposed to be an element where you compete with other fishermen , ally and horde often side by side with fishing pole in hand instead of weapon and the one who get 40 in shortest time makes the winner.
Nowadays with the achievement , that spirit is gone , destroyed by people winning at all cost , its not winning in a friendly competition with each other , its winning by all means necessary, many times by people not much into the fishing spirit but into *omg-achievement title 4 the win*.