It usually means I'm going to be one of the last standing, but I probably won't win. Which really isn't fair. Last man standing alone isn't aggressive enough, but the points system is too aggressive in my eyes. Mixing the two systems would be a good idea.
If you think that it's unfair to be the last man standing without winning, then the only fair system possible is the last-man-standing-wins. All other systems or mixes of systems will produce unfair results occasionally.
oh and it doesn't have to be complicated