Personally, I enjoy the team event. Since it's still in its infancy, it doesn't have the prestige of an individual medal yet, but within a few more Games, I think it will generally start to be viewed more positively.
It's hard to compare it to the team events in something like gymnastics or swimming, though. In those events, the team is made up of the best of the best. In skating, it's not uncommon for a country to have skaters in some disciplines who don't quite live up to the potential of the rest of their team, and they get propped up by association. For example, Russia in Men's. In each of the other TE disciplines, we can realistically expect Russia to be ranked 1-2. The Russian men could come anywhere from the top to last place on a given day. But the skater(s) competing in the TE would still walk away with the medal, even if they didn't contribute much. Unfortunately, there's no way around this.
I still think the TE should be the figure skating last event of the Games, though.