I think it’s fine if a group of night elves would like to throw together a party in honor of the Wild Gods among themselves. Especially if the hosts are more interested in creating an event aimed primarily at the night elf scene, rather than the druid scene. Meladriss is already doing the Emerald Assembly gatherings with Akule to promote druid crossfaction roleplay.
While I wouldn’t object to it being a crossfaction event if the organizers wanted to, I could imagine some potential risks and extra effort required. Especially if Meladriss would like to experiment with some new custom activities for the event, having the event limited to Alliance would probably make it more convenient for the hosts to organize both IC and OOC.
That said, will keep an eye on the thread, looks like a cool initiative!