I am not going to this tourney but just a few observations.
$20 is nothing.... get over it.
Changing the tourney rules beforehand does suck but they have averted a major screw up.
Less entries available does benefit the lesser skilled players, so you might see some fairly random results from this format.
My only suggestion would be to have fewer games count towards your total score. 20 entries on 10 games is pretty brutal.
Keeping 12 games available keeps the lines moving, but with only 20 attempts it would be much better if only your best 7-8 games counted.