Parachute races have been something that players really don’t do anymore in the game, and were never really that popular since the game was released in 2013. For context, parachute races involve players in groups of four jumping out of a plane, and racing through targets where players will earn points. As players land, there is a giant target where the closer to the center you land, the more points you earn.
By participating in this event, players could potentially earn triple rewards but there really is not much excitement amongst players, some joking about it on various forums that they will probably take the week off from playing the game.
What is also interesting about this decision is that around this time last year, Rockstar tried to use this exact same event in GTA Online giving triple rewards on parachute races, which was not extremely popular.