About the winner takes all debate, those saying that there needs to be more winners or else people will lose interest in the game also need to factor in that if too many people win, then the rewards will be quite small and this won't draw new players either. It needs to be balanced.
If i had to suggest, I'd leave the elimination round as it is, and maybe consider rewarding the top 3 tiers only for Points mode, smthg like 60%/25%/15% 🤔