I think the game works fine the way it is. Obviously if someone starts to dominate like Jupe, Omega or Alex were doing, they start trying new things or get bored and retire. Even if they do keep playing, no one strategy works all the time.

Anyway, crazy ideas:
1. Tournament of champions. Invite the players that have won a tournament to an invitation only tournament to determine the best of the best. You could open it to people who have made it to the finals, or even former semi-finalists. According to my records, there's only 68 players that have ever gotten that far.

2. A World Cup style tournament. Go through the prelimins, but once the field is down to 32, break them into 8 groups of 4 via an S-curve, and have each group play a round robin to determine the round of 16. Top 2 teams in each group move on.

The World Cup idea would only add two days to a tournament. Tournament of champions would be a little more difficult to schedule, since you'd probably want to do it after one of the regular tournaments. Or you could combine the two ideas, and have a tournament of champions with pool play.