I agree, it's the lacking of a big reveal.. or a surprise twist. Don't get me wrong, I'm enjoying WOK as much as the regular books it involves, but it's not an Annihilation level event with the FATE of the Universe in the balance. It's the fate of the Kree and the Shiar futures, yes, but that's just a story. A good one, but far from a blockbuster event.
And I am enjoying this more than the traditional Marvel 'Events' like CW, HoM, or SI proper.
I would say not as good as the first Annihilation, but a million times better than Conquest, which imo was pretty bad - especially the ending.
True, there haven't been major reveals/happenings in the main book (other than with issue #4) but the tie-ins have been darn good.
And you could look at it as the fate of the universe is at stake, but they don't really touch upon that in the main book, more in GoTG.