I think I would miss the one-on-one action in the format you suggest. I enter tournaments without any hope on winning them, but mainly because I see it as a way to improve my skills. You could say it's no different from daily playing, still, for me it is. I also like the direct interaction on Discord during tournaments, which would be something that won't be happening in such a tournament.

But who am I kidding, lol? I will just be happy to join whatever tournament comes along ;0)