It’s quite simple, really. Pure math.
Level 14 is all that requires for an account to get enlisted in a tournament.
Level 10 is all that is required for the Mythic titan event to be unlocked to an account.
Everyone can register 20 total accounts for each of these events - 19 alts which barely made it to level 14, and one primary main account that will actually compete.
Since the alternate accounts will never actually compete, they will get the lower places.
Which leaves the top 5% for…everyone’s main account.
No need to have money-chased heroes or to waste valuable items, well except if one wants to get into top 1% of course.