Ever since civil war they have been stacking big events 1 on top of another. Just look at the last 12 months. We have had Fear Itself, Shattered Hereoes, Regensis, Spider-Island, Schisum ... and I know I am missing a few.
I can see what you are saying but I don't really agree completely. I don't really consider things like Shattered Heroes or Regenesis to be events, per se. I consider them in the same vein as The Initiative, Dark Reign, and The Heroic Age. To me they are general banners for a particular status quo that's established post-event.
Also, I think there are two tiers of events - main events and mini events. Stories I would consider main events from the last ten years are House of M, Civil War, Secret Invasion, Siege, and Fear Itself. I would consider things like World War Hulk, Messiah Complex/War, Spider-Island, and Schism to be mini-events in that they generally seem confined to only a handful of books in a particular corner of the Marvel universe. I tend to not be bothered much by these "mini" events.
All that being said, I think a lot of times events would be suited to be handled within the main books of whatever corner of the Marvel universe they are happening in instead of creating an entirely new mini-series. Secret Invasion and Fear Itself, for example, would be handled just fine within the pages of Avengers and New Avengers. This is especially apparent to me as, IMO, the Fear Itself Avengers tie-ins were pretty lackluster.
I haven't read it but Spider-Island seems like the best way to handle an event these days. Wouldn't Flashpoint have been much better being told in the pages The Flash?