Actually, 47 players carry a Fargo of 790 or better. These are elite players, and, in my assessment, they all play well enough to go on a magical run to the title. That said, I'd put the over/under on the Fargo of the eventual champion at about 820.Going by results of past 5 years major events, 780 to 800 finalist in majors recently Roland Garcia, Max Lechner, Omar Al-Shaheen, Christopher Tevez. So yes potential finalists around 50 (FR780+) in this field.
But for past 5 years, winners of majors have all been FR800+. Which puts potential winners in this event at around 2 dozen
As you say, the biggest titles are generally the domain of the most elite, but not always.
 Means the elite players really have to perform and get their game up to speed real fast cos KO stage now starts earlier.