Best Of

There are 300,000 total earnable points, so yes you can reach the top milestone, even if you miss a few.

Why do you make everything p2w?

I wouldn't call it pay to win. Sure, spending could be a tie breaker for points, but if you don't do everything, especially Raids, no amount of spending is going to catch you up.

Well, technically speaking $24,000 USD might catch you up. But even among the mega whales I suspect the number of people who will actually do that is very close to zero.

Since about a third of the realm points are in Raids, and my alliance doesn't do raids (much less Nightmare Raids which seems to be required to cap out the milestones) I'm basically out of it. But the event is still giving me a ton of rewards for basically just playing the game more or less as I normally do, so I can't be too upset. I find it ... odd that there's so much emphasis on Raids given their presumptive optional nature - and the fact they are tied to alliances, meaning individual players cannot simply choose to do them just for the event - but I suppose Kabam has its reasons there.

There are ranked rewards, which will be unobtainable unless you pay
I would call that pay to win

They are unobtainable even if you do pay, unless you also basically do everything. Normally the term pay to win refers to games where either whomever pays the most wins, or spending offers an overwhelming advantage compared to everything else. But that's not really true here, except in an essentially unrealistic extreme. Spending offers an advantage between two players who otherwise are tied in all other respects, but having an advantage between two competitors who otherwise do exactly the same things equally well is not pay to win, that is literally all competitions.