What is the purpose of the Events section of Photos on iOS?
A new event is created each time you transfer photos from your camera to your iPad, or from your computer to your iPad. Each event is the date when a group of photos was uploaded. As far as I know, unless you have iPhoto, there is no way to change these events names, or configure them at all.

Events differ from Albums in that they are created when you upload photos to your iPad. Albums must be created manually.

Events work best with iPhoto on OSX as iPhoto is remarkably "events-centric". When you import photos into iPhoto on Mac, it will automatically categorize them into "Events" (this is where Events can be named and settings can be adjusted). Then, when you sync the iPad with your Mac, these events are loaded onto your iPad.