I think once female/villains brackets came in, the real magic was gone. To me it came back with four ways, though I think we can't always have them. I feel like a cycle of characters/games/4waychar/4waygame would be good, maybe trade out four ways for "of this generation/of this decade" type contests as warrants.
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Donny: Are they gonna hurt us, Walter?
Walter: No, Donny. These men are cowards.