In Soviet New Eden...
If you're an Everquest veteran like me, you probably remember GM events, right? Where an employee of the game would control an in-game event to shape the world around them? Dynamic events are trying to do that on a more varied scale, either local events (called LDEs) or global events (called GDEs). Red5 is careful in the post to detail that they want to make it all feel important, both in story and in gameplay, which is why they explain a few examples of dynamic events they're planning - like Chosen trying to gain a stronger foothold in areas, or a rush to secure a crashed Thumper's salvage.
Firefall is all about making the player feel like they're in a shifting world that changes depending on their actions. Dynamic events are the way that Red5 are making this happen. And I'm glad for that.
Julian "Mirai" Williams