Quoted from ZenTron:So you walk in twice and post the top score and win it. The 16 qualifiers are the finalists who compete in tournament.
The logic of what you're saying is going in a weird order. It's "So you walk in twice and post the top score", then "The (top) 16 qualifiers (who at least scored over 50 million) are the finalists who compete in (the) tournament (finals).", Then, "(You beat everyone in the tournament finals) and win it."
A lot of people in the upper half of the player pool in the Bay Area seems to be giving it a shot. My FB feed seems to have an update on it at least once a day. I guarantee no one is just going to waltz in and take it home without a fight.