Most Disappointing Company Wide Events

This is my list of the most events/story arcs from the big two companies.

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Posted by Byzantine

Agreed that most of these storyines did more damage than good to the characters. Operation: Zero Tolerance is however a pet peeve of mine.  
Lets see. A government-run operation with equivalents around the world specifically targets all known mutants. Half of the active X-Men are taken down immediately, the other half are actually lost in space. Several other teams go in hiding. The only characters actually doing something to face the situation is a group consisting of Iceman, Sabra, Marrow and Cecilia Reyes. Good enough set up for several storylines. 
Then just as the fun begins, the storyline ends. Because Robert Kelly and Henry Peter Gyrich campaigned for the government to withdraw support for the whole Operation. That was it. A giant set-up with no real resolution.