Here is the way that I see it. Olympic champ goes to the player who played best "over-all" during the campaign. The contenders understand that certain games are their suit, and others they have a snowball's hope in hell. In each tourney, they must contend with the best players in that particular discipline.
While the best players in any particular league(s) may not be contenders in the over-all Olympic, nor wish to be, they join for a number of reasons....to play with new faces, to play in a tourney with a decent number of players, to help promote their favorite league amongst fellow eliters (I learned dominoes, backgammon, canasta, pool solely to be more competitive for next Oly round.... pino is next).
The so called "spoilers" are essential to the olympics, and as far as fee entry/payout for them it is no different then any 100 yep, non-bonused tourney.