The shipyard has a great potential. A very great one. I think it is one of the best initiatives i've seen in the game. The visuals are outstanding. Only... it doesn't go further then "potential".
For me, the ship and goals are undoable. So, if the shipyard is there or not. It doesn't makes a difference. I just play as usable like there is no event. Wow is still a nice game.
Just an idea: The shipyard can be something permanent. You may choose the vessel you make and depending the tier/type of building ship, the buildtime, goals, resources(xp, money,playtime,...) can be higher.