This particular Community Challenge isn't "bad"; what it actually represents is the first actual challenge to demand that the community as a whole participate in it.
The reason I say so is that the Goals on the Challenge are obviously not arbitrary; they must be based on actual data on a particular number of players which is consider to represent the 'community'- this may be the total number of players ever seen to play the game or it may be based on a number of active players seen over a period of time or some variation on that dataset. So assuming that we can also assume that the number is totally achievable, but with the caveat that every person playing the game actually takes the time to complete at least two thirds of their Quest Board if not the entire thing.
The thing which makes this Challenge stand out is the fact that a small percentage of super-active players cannot possibly make up for the players who just do the minimum to qualify to receive access to the Chests or those who play but don't participate by clearing Quests. This is the first one where a sizable number of players, if not all of them, must actively work towards the Community Challenge if it is to succeed, rather than simply picking at it a little bit and then sitting back for other players to pick up the slack so the payoff can be collected.
This definitely isn't a Challenge where Player A and Player B can both make the minimum of 100 Vanquishes and then sit back and relax while Player C and Player D both play like a madman and collect 1000 vanquishes each which makes up for the slack of the other two.