A lot of CC tournaments and other community orginised events use these so there must be a decent number of entrants. The prize fund is 2,500c after being cut by 60% (!) of what it now is. So for the sake of wgt saving less than 2 (of your more expensive) sleeves of balls a tier you impose that massive cut. I suppose when the fall in entries come you can cut the prize again or just stop them.
Exactly. Less players => WGT decrease the prize => less players => WGT stop the the tournament. It's what happened with the UEL weekly 18-hole tournament.
But the only possible end of this strategy is the end of WGT (or at least the weekly/monthly tournaments). They should find a way to attract more players and not saying stop when it's not profitable enough for them.