Yes, you are right, the prize fund will be diminished if we do not reach a full 200 player field, and it is very likely that we wont reach the full field...
However, we will have an event, and the players that have paid to play, or won satellites, or obtained a sponsor - they will play for a larger sum of many than anyone is used to playing for, outside of IPT events. We have posted some alternate payout schedules and formats in the likely event that we do not get 200 players,
you can see it here.
Imagine that 2 players have won satellites, and 5 have a sponsor, and 9 have paid the entry. Thats 16 players, playing for a prize pool of $80,000. After the first round, 8 players will leave with $1000 each, and the other 8 players will be playing for a prize pool of $72,000. Thats pretty good, I think. Now imagine that 1 of those 8 got in this tournament for $400 (satellite), and 2 of them have sponsors, so they're basically freerolling. The satellite winner is definitely having a nice pay day, even if he gets knocked out in round 2. Players will make a substantial profit in the 4 day period that the tournament takes up... We are trying to prove that this system will work, and then next year it will be even better... we will get a full field, and most of the players will have earned their way in via satellite... This system will create much larger prize pools and much better wins for all players involved....
So yes, you're right, we probably won't reach 200 players, but we will have the event, some pool players will earn real good money, and the word will get out. And next year, we'll do it again.
We will eventually be using this system to create a larger prizepool for the Pro Players Championship at the Super Billiards Expo as well, although it won't be a $5000 entry, probably $2000, with satellites going on so that players can win their way in for $100-$200 pretty easily.
I hope this helps clear some things up, feel free to write back with more questions....