Kieran,
What an elegant and simple solution! Not at all obvious to the casual user, and too late for me, but I hope everyone else who is baffled the Events folder uses your terrific advice. Spent an hour at the Apple Store in a Photos class, their solution was dragging photos or events, or using the Right click/option to make each Event one by one into an Album, and then making more folders.
So used all yesterday as opportunity to clean up, weed out and rename my events while doing above. Since Moments collects all photos by date (my many, many scanned older photos are out of luck here, unless I re-date each and every one) I created/renamed Albums with logical alphabectical groupings, and now keep Albums sorted by Name, not date.
And note to all, read the last pages of the on-line Photos help book where all these hidden Keystroke shortcuts are listed. Don't bother to Search the user manual, pretty much useless at finding answers, but a full read through before attacking Photos is helpful. Thank you, Kieran!