Can you send a screen shot of what you are seeing?
An Event folder contains media data (video clips), without editing capability. A Project is an app that that contains tools to edit video clips that have been imported into it. A Project can be exported as an edited video (Movie) in Mp4 or .mov format.
Media imported from your VHS tapes will come in as video files into whatever destination that you choose. You can import them into a Finder folder on your Mac, or into QuickTimePlayer, or into the iMovie app.
If you import into iMovie, all of your footage will import into the iMovie Library located in the Movies folder on your Mac. In the iMovie Library they will show as Events (media data) because the footage has not yet been used in a project. Event media that is put into a Project will show as a Project in the Projects browser. There is no "Movies" folder category other than the Movies Finder folder that I mentioned above. An iMovie 10 library contains both events and projects.
If you import to a folder on your desktop, the media will go into that folder as video files in whatever format they were exported. The folder can be given any title that you want.
If you import to QuickTimePlayer, the video clips will come in with whatever format that the camera exported. When you export them from QuickTimePlayer they will export as a .mov file.
-- Rich