As far as in-game festivals goes the Lunar New Year is very anemic when compared to the other ones. No jumping puzzle, no unique farm to kill stuff while gathering and gather themed bags, etc. As rich as the cultural style is I'd think there is plenty to draw on to come up with activities other than Dragon Ball and firecrackers. There could be a raptor challenge where you gather fireflies in tricky jumps with shifting themed platforms in a raptor only jumping puzzle. There could be a griffon challenge that you have to light floating lanterns throughout the city. The city could have falling cherry blossoms as an ambient effect. How about an reverse labyrinth that is basically a open valley that is a reproduction of a Canthan battlefield where players hunt Canthan themed creatures, spirits, demons and otherworldly creatures that threaten to overrun the valley to get unique bag drops.