FWIW, if I was still a member, and someone came along and ran a $10 Am entry "fees only" sanctioned C-tier, i.e. no payout, no players packs, just cover the PDGA fees, insurance, and any fees associated with a local tour, course reservation, TD preparation expenses, hey, I'd be there.
But as to what's already been mentioned in this thread. If you're going to go that bare bones, why even bother with sanctioning? It would seem like a glorified multi-round league night, with formalized conduct restrictions regarding numerous things that many of us do at league.