Tournaments are great in theory but they have a limited appeal in modern MMA in my opinion. It is just too difficult to keep a large tournament within a time frame that keeps it both legitimate and interesting when you have some commissions that issue precautionary medical suspensions whether a fighter is injured or not, let alone the lengthy suspensions they levy on fighters who are injured or sustain a KO/TKO (definitely a good thing though). I suppose Bellator uses a tourny format, and Strikeforce attempted it, but neither really had the same feel, or appeal that the tournaments in Asia had. That is just my feelings though, I know there are still a lot of people who enjoy tournaments, regardless of how long they take to complete.
On a side note Melvin would get RNC'd in the first round of the tournament