They also offer Swiss events: https://support.chess.com/customer/en/portal/articles/1444927-how-do-live-tournaments-work-where-can-i-join-one-?#schedule
That said, if you see an account that has a lot of 2 move losses, it can be reported with it a ticket as that is against the site rules (sandbagging).
I am an average player who likes playing tournaments. Live chess changed the format to arena from swiss some time ago. It's a cool idea, but the way tournament currently proceed is flawed and unfair in my opinion.
I have played several arena tournaments, and it seems to me that your current rating impacts your possible opponent: the system somehow prevents players with a large difference in ratings from facing each other. As a result, there are players with rating 500 who competes against 1600+ players for 1/2/3 places. His/her match history shows that the rating was artificially lowered by losing games in 2 moves. In the tournament however this player does not face the top rated players (like 1800 or 2000) even if s/he has 100% wr. That gives him/her an advantage over someone whose rating corresponds to their level of play.