Had a similar experience in an earlier tournament, where I dipped down below the top-100 to 105 right before the tourney ended. Dropped straight through several “percentage tiers” that had no applicable players in them (i.e. the ones that would actually rank “top 15%” or “top 25%” were already populating the “top-100” tier).
The problem as I see it is the mix and match of numeric rankings and percentages, which makes it all rather confusing. If your aim is to reach, say top-35%, and you only have your numeric rank to go by, you really have no idea how close you are at advancing. Especially without knowing the total amount of players in your bracket, you have no way of telling. On the one hand, percentage is what the tiers are now based upon, and on the other hand, your leaderboard ranking is all the information you have to go by. It’s like driving a car trying to keep a speed limit, with only a fuel gauge onboard.
It would help to at least know your current exact rank percentage-wise, to get an idea how close you are at advancing (or regressing). Also, how many points you currently need to advance would be quite useful info. As it is now, it’s a complete shot in the dark and the competitiveness of PvP is kind of lost along with it, since you’re just grinding for points blindly.
That said, I do appreciate the intent with the reward changes, however. Percentage seems like a more fair way to distribute the rewards, as some brackets have a lot more players than others, making it more or less challenging to rank high on the respective leaderboards. The new ranking system just needs a wee bit of tweaking still, imo.