Nah it's a standard double elimination, just worded poorly. I'll try to break down the Wanginess.
Winners will fight each other for their 2nd win. Winner moves on to the finals.
So the guy who wins both matches goes to the finals-- this is the only part that reads properly in one go.
Loser of bottoms will fight each other. Loser is eliminated.
The two losers battle, the loser is eliminated. Straightforward though "losers of bottoms" is lol.
The one who won their first match will then assume to be attacker for the winner of their 2nd (can pass, etc). Winner of that goes to the finals.
The won who won the first match faces the one who won the second match-- in other words, the two 1-1 guys face off, winner goes to the finals.
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No problem!
This is a cute and pop genocide of love!