I’ve seen that work very well. Price the super solid guys out(or almost out). And price in the weaker players to the point they are getting such a good price they can’t get mad about losing.
Terry Stonier did that on the Tuesday night tourneys in Sacramento for years, worked great. Didn’t lose many players and most players were ok with it. As the value was good for strong and weak players and the majority in the middle were playing normal fees.
As I recall it ranged from $5 to $25 or $30(for the strongest players). This was in the 80’s so do the math for today’s money.
This system ended up destroying a long standing weekly tourney we had locally.
Out of the gate I think it started at ~$25 a player. You got to play all day regardless of how you finished. Race to 7 playing 9b. It quickly became handicapped, which no one complained about. Weaker players enjoyed a shorter race rather than extending the strong. That kept the event moving as it could become a long day. Calcutta was awesome. It wasn't uncommon for the winner to walk away with over a $1k for a Sunday weekly tourney.
Clearly this event would pull in players a decent distance away. Wasn't uncommon to see players with a 1.5hr drive. Any of the top 3rd could snap off a win. The content was that strong. ...but of course, like we always do. There were players that would whine about their ability to win. However once you can't win a 7-2 race I don't know why they think they deserve to cash.
...So in an attempt to make the whiners happy. The TD (owner) lowered their entry to $20, then 15, then finally 10. Now none of this really bothered the top 2 3rds of the field. Although the drop in prize pool sucked. However, you'll never guess who found a way to complain. Yep that lower 3rd and now the middle one as well. That middle tier that would only randomly cash, get to enjoy not only pay more but giving up weight. Accepting tiered entry $ and game handicap is different when you know that you're likely to cash regardless. When you odds of doing so are less than 40%, it gets to be very frustrating.
What we saw was a departure of the middle tier before anything else. So now, the lower tier out numbers the middle/upper tier. So once again to make the whiners happy. The TD started increasing the race for the top players. I want to say it reached ~12 racks. That's right a 12-2 race in some instances. It took forever for those matches to play out. Not only because of the required wins, but because the strong player could not take any chances. Now we have a longer day of grinding for less prize pool.
Eventually we then saw the "you won so now you sit" rule come into play. If you won, you couldn't play for 2 weeks. ...and I can't remember when but at some point the event got more expensive for the strong as well. I do recall having to pay $40 at some point.
In the end, the whole thing died. The whiners kept whining, the middle tier was completely gone and maybe 1 or 2 of the local strong players would play if they had nothing else to do. The whiners were never really interested in pool all that much so when packed room became a ghost town sparsely occupied by the usual woah is me bangers. The social aspect also died.
So that's what happens when you have something that works and you start trying to "make it fair". It's a slippery slope you're better off to avoid. In the situation above. The TD could have just as easily said that the lower end are already handicapped and get to enjoy a $10 entry which included pool all day. If they didn't come back (they would have) then at least his room could have kept the notoriety for this event.
I should add that the TD (room owner) ended up going bankrupt over other bad decisions and lost the room. Which has been bought/sold a couple times and is a gainfully sustaining biz.