Almost noone doing Ares nowadays even with better reward. Only 2 (maybe 3) first rounds of spawning of the boss there is enough amount of ppl to kill boss and it takes not less than 15 minutes each killing. After that first 2/3 rounds that event is dead.
After that 2/3 rounds barely anyone wanting to do event and killing Ares takes AGES.
Lower it's HP pls at least. Reward is not worth the time spending there...