Looks like they're retooling the tournament system. Remains to be seen how well this will do.
The system being replaced had people signing up for free, but frequently real life would get in the way and games would stretch out over weeks or even months. The new system has people pay to sign up, with the caveat that, should they not be available to play, they forfeit. Sounds simple and workable, but the issue I see is that, if real life got in the way before, it will continue to get in the way; real life tends to consider entry fees irrelevant. If people forfeit their entry fees, they're far more likely to decide that it might not be worth while to sign up again.
I might well be wrong. I predicted that Teenage Mutant Ninja Turtles was too stupid an idea to ever succeed. But I just don't see this solving the problem. My guess is that they'll go through 2 or 3 iterations of this, and they'll have few people signing up.