Part of the goal of having events that payout to those places, even without that much participation, is to encourage more participation. For example, the GF Rebellion tournaments, especially on the high end, don't usually get enough participation imo, but they are meant to encourage and drive sales of the set. With wild, the GF Diamond struggles to get filled as well, but the hope is that it drives value to older cards either by ownership or rental. Any funds that are not distributed just go back to the tournament account.
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Rationale makes sense. Back to the bank!