From an E-sports perspective it's boring. The outcomes rarely change, the fights play out the same. Endgame it may be a different matter, but while everyone's still alive it shouldn't be a thing. You need a better matching algorithm. Alternatively if you at least broadcast who our next opponents are, then we'd at least have a chance to fight back.
With 8 players alive, I've fought the #1 player three times in a row. I was one of the stronger builds, but that didn't matter against a counter build. Lost 50 hitpoints and the game. Unbalanced rng.