No, it's not really true,this is not The Hungering Deep event,it's a celebration of it for the second anniversary of the game,every big update will have a celebration.
The Hungering Deep is the first very big content update for the game,it added the drum,the speaking trumpet and a little journey to find how to and summon the Megalodon which at the time was more powerful than the Megs we have now and required multiple crews to work together.
All in all,people should know that this event is tbh,pretty shallow. It doesn't compare to the original event at all,it's just some really easy tasks that you can do because why not and that's all.
P.S. The rewards aren't that great but it's easy enough,the fact they give out the first Drum in the game is pretty controversial among veterans who played during that time though.
If anyone wants to join me and my friend,hit me up.