If the winners remain 20 while the prizepool is $1500, the wagering contest will get less total number wager which is the main purpose of wagering contest. Why? Simply because players will not try to wager as much as they can as the prize will not be something worth. As a result, the total wager by all participants will be low which will be something not worth for the casino to spend the money on the prizepool. That's why I do even believe that with $1500 prizepool, 5 winners will be much more competitive. 20 winners on the other side is good for participants only because some players may win something nice with low wager.
Totally agreed on this one. Typically, those top spot is the one who heavily being competed by whale players compared to the lower spot so a good top spot prize will surely attract whale players to compete in their tournament.
But as a low bankroll player that wants to participate on tournaments, I do preferred a balance between prize amount and total participants just like the previous tournament structure.