While I've seen some people complaining about having the Pilgrim's Bounty holiday in the midst of the Cataclysm ramp-up; honestly, they're probably also the ones that started complaining about the event screwing up Orgrimmar by the second time it happened.
But think about this for a second. Not only are there easy dailies for your alts to accomplish, with mats you can pre-make to hand in, there's another bonus for us achievement hunters.
Sitting down at the Bountiful Table and eating each dish 5x will give you the Spirit of Sharing, which is a HUGE bonus on some lengthy rep grinds. I believe you need about 80 + librams of rapidity/protection/focus to get exalted with Shen'dralar, which is 80 x 500 =40,000 or more rep. With 10% bonus, at 40 turnins, you're already at 22,000 rep, instead of 20k, putting you 4 librams/mats ahead of the game. So, this could make the rep grind only around 70+ librams, instead of 80ish. And when you're hunting for Blood of Heroes or either of the other BOP mats for the librams.....it could be your sanity on the line.