Making 1000 dragons appear might be overkill, but there is a way to make winning based events work. The key is to use fair effects when the only cause is that one player is dominating. For instance, we desperately need a not so random event that allies all remaining weaker factions against the one that is about to win. That is not cheating, that is something that would actually happen. We can add it as a random event to spark some interesting endgame scenarios. There are alot of endgame scenarios I would like to see added.
More to the kind that apparently killed Heavenfall's whole family, I would like some of those too. It would be unfair to pile on difficulty once the lead player starts to get ahead. But since we are talking about a .1% chance, it seems more like a rare and exciting challenge. Something you will only see happen once or twice, but it will always be in the back of your mind that such terrible things can happen. Honestly right now, once you pull ahead in the game there is not much challenge left. There is really just a long slog of easy battles leading up to a win. I don't think the game should be using events to balance other parts of the game that need work, but I do think adding a random "fuck you" into the game is both hilarious and exciting. I also think adding in a random "we see you are losing, here is some help" makes things more exciting as well. The difference is making these events rare and interesting. The key is make people both hate and fear them. It is what makes the game exciting.
Another kind of random event that could be added is a sort of themed chance card throughout the game. Each game could be marked by an overall story so that it feels more immersive. I would really like to see some classic fantasy added to the realm with random events. Now that we can spawn goodie huts, the possibilities are limitless. Here is what I mean:
Oldish Parchment IV: Oblivion Doors
The Dragon's Tear that holds the walls of this plane together has been stolen. Dozens of rifts have opened between our realm and the fire plane. This is surely the work of Sarog. It is up to the powers of the realm to recover it and close the doors to the fire plane. (Many Fire Gates open around the realm, offering a Pits of Namtur like quest across the realm.) It would be interesting to have this sort of theme explode into the game about 150 turns in. I think most players will even enjoy some parody of the classic fantasy stories. You can of course choose to make things more or less silly as you see fit.
Adding these three types of events would add so much to immersion and storytelling. It is especially nice that the overall theme of a game can stay in the quest log to stay in the mind of the player long after the event is over.