This is pretty much what I have been talking about for the last few years. Ive been calling it "Flat" payout as opposed to Trophy Only because it isn't trophy only. Entrants get a players pack equivilant to their entry fee (adjusting retail/wholesale pricing depending on what and how much money you want the event to generate) and the top finishers get trophies.
In otherwords everyone gets paid out the same amount. The empasis of playing a tournament goes back into competition to see whos the best and opposed to how much stuff you can win.
By aquiring sponsorships you add additional prizes for ctps, ring of fires, or additional payout purse.
We've been doing this for Novice and Juniors at the Lexington Open for the last few years with positive feedback.
The entries would be the same as in regular entry fee pricing ($30-$60), not the bare minimum like just covering the cost of trophies.
I really feel we need to get AMs weened off of "Scaled" payout. If they want more prizes then they can make the effort to go out and get sponsors.
It'll take a brave person to take the chance at starting this but I think once it catches on it'll greatly help legitimise the "sport" of discgolf.