A "finished" movie is one that is shared out. It stands independently and is no longer related to anything in iMovie and does not refer to any other file. The clips in a "project", on the other hand, refer to the original media contained in the iMovie library.
An image imported into iMovie resides in the iMovie Library and is available to any project that uses it. Several projects may make reference to it to include it in the project.
The originals are not stored as Events. Unlike in iMovie 9 the Events in iMovie 10 do not hold actual files. All originals reside in the iMovie Library Original Media folder where they bear their original names. Events are an organizational tool that lets you group and access the original media imported into iMovie. The images and videos in Events are references to the originals. When you select an image or video in an Event, a pop up folder will take you to the Original Media folder that contains the original image or video that is being referenced.
As for the "Event" nomenclature that Apple chose to use, that was their call. I do not know the reasoning behind the choice. The terminology was a holdover from iMovie 7 years ago, although it has a different meaning. Events hold references to both images and videos, so "Images" would not be an accurate name. "Originals" and "Root Files" wouldn't be accurate either, because the images are not the Originals or the Root Files. When you see Event, think Media, although that is not entirely accurate because it simply references media that is contained in the Original Media folder.
I have not been able to find a way to open the Original Media folder for the entire iMovie Library. You can see a portion of the Original Media folder when you select a clip and choose File/Reveal in Finder, and an abbreviated Original Media folder will pop up showing the selected clip highlighted along with a few other clips. You also can access the Original Media folder by clicking on the Movies folder on your Mac and then Contol-clicking on the iMovie Library icon, and selecting Show Package Contents in the drop down menu. You will see a list of your projects. They actually are not projects, but contain the data an codes that the iMovie app uses to assemble it into a project when you click on the project's icon from within iMovie. Double click on one of the "projects", and inside the folder that opens you will see an Original Media folder that contains the original media in the project. If you erase the media from there it will be gone. However, never move, delete, or change anything in the Show Package Contents or any of its subfolders or you risk corrupting your library.
As you can see, iMovie 10 has very complex architecture to accomplish the functions that the designers wanted. Organizing the architecture for consumer access must have been a daunting job. Once the basic architecture is understood, however, it hopefully is less confusing to the consumer.
-- Rich