The event actually had so much potential going by the teasers
http://www.thecomicbooknerd.com/2010/12/22/marvel-fear-itself-teasers/
and what actually happened was that several characters were fighting people that got turned into hammer wielders. And even there the action wasn't as good as what they could have made out of it. Just look at the final battle you don't even see most of the upgraded heroes fighting with their new armor/weapon....