I understand what you are getting at with the soccer comparison, but the English soccer structure doesn't have bot teams playing each other at the expense of human controlled teams.
Like I said before, if it didn't have a monetary component it wouldn't be a problem. The tournament has an effect on overall fan support which influences attendance as well as the 50k purse for winning each game.
No, because there are no bot teams in England, but other than having teams from different levels entering the tournament at different times and having the very early qualifying rounds drawn with geographic constraints (no need for ninth-level teams to travel cross country), the draw is entirely random. There are often times where low level teams are facing off while higher level teams are facing off. And they, like BB, have prize money awarded to the winners which varies based on each round.
In short, the whole idea of a seeded tournament is fine - HT uses that - but a completely random tournament is fun too and definitely has precedent in the real sporting world.