Well, I don't mind the number of teams, I just think that big money + single elim randomness is going to cause a lot of rage. Especially among the top players who are seriously expecting to take all that money.
Also, 16 teams at 5 people each is a grand total of 80 players. Do we actually have 80 serious, competitive players that will be showing up for this?
Anyway, it's not like I'm opposed to going 16 man, single elim. I think it'll be fucking hilarious and probably full of ridiculousness. I'm just stating random concerns as I think about it from both angles.