I completely agree on all points.
Too many tournaments?
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It seems like tournaments are not getting many players, maybe here are some reasons:
#1) The tournaments are too frequent. It seems like there's one within 7 minutes at any given time.
#2) Right now I have the choice to play at least 3 tournaments of each time control. This is confusing and I don't see how this doesn't split the field of people who want to play. Apparently this has something to do with the rating of the tournament but except on the seek graph I see no indication of what strength the tournament is.
#3) Prizes? What do I get for winning? This seems to be unclear. I don't see any tournament statistics, trophies, or at least if these things are available I am not aware of them. I won a tournament and got a gold thingy or something but I do not understand where to find this in my "trophy case" =)
All in all though congratulations on adding tournaments to chess.com I am looking forward to playing more of them. (this is about live chess of course).