Yes, this is exactly what kept me from playing singles this year. I'm rated a ~664, I played the platinum division last year not knowing where the cut off was. I finished in the money, but was very outclassed by a bunch of people. So I knew this year that I had no chance of winning the platinum, and I would have to compete at a higher level for less money pay out? Doesn't make sense.
Combine the division and issue handicaps. Its the only way I'll play singles again.
So the odd thing is that everyone seems to complain that handicaps ruined pool, step up and play, I don't ask for spots, yet the there are big long threads where people want MORE handicaps LOL
There is a higher level than Platinum? A 664 is a very good player, solid A or A+. At that point there is not much need for handicaps on a 7 footer.