The leaderboards in any game will always be about how much you play. Skill is certainly still involved to a large degree though. The issue with the current system in place is that the time needed to even compete to get to the top is absolutely absurd. It now takes more time than skill to reach it, and it shouldn't be that way.
I understand that you wasting 4 weeks would be frustrating. I'd be frustrated and annoyed also, but you'd have to take some of the good from it also. You became much more skilled through your trials, and you'd be entering the new leaderboard system with those skills earned, with the possibility that you could be the new #1.
Sean I understand your pros and negative list completely. I appreciate the opinions. I think instead of the upper staff shunning away the idea of MCSG being extremely competitive, they need to embrace it and provide the extra push for it, by supporting it completely. It's a crucial time, as no other servers have ever implemented something like this, and if they did it first, it could turn out for the better.