They aren't going to put effort into a mount that's both free and just a promotion. Blizzard was just taking advantage of people that are obsessed with mount collecting by bribing them to play their new money cow.
How is there no effort put into that mount?
It was a completely new, retextured model. There is nothing besides the wings (reused/colored from the Quilen) and skeleton that is old.
Yeah, totally a bribe for Blizzard (a company) to make more money. I don't know if you realize what the goal of a company is right? To make profits.
An artist spent a great deal of work and effort on that new mount.