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You know, Kamikaze, it's hard to say how objective your rating is (as with all the others), and I won't even argue that this system is the most complex and confusing (remember how people reacted to even simpler formulas). The main point is that the system is full of coefficients pulled out of thin air, which cannot be understood or explained.
3 to 7, 2.8, 3.5, 0.98 – it's awful. It's just a set of numbers that you use to adjust the behavior of the curve to what you consider optimal. They have no physical meaning.
In mathematical terms, when, looking at the results of a tournament, you mentally assign a certain rating to them using your own system of values, it's said that a grid function is defined (its values are known at certain points). Then you solve an approximation problem. So, why bother? With such a large number of arbitrary coefficients, you can achieve almost the same accuracy as when launching a rocket using standard splines or Runge-Kutta coefficients, etc. But there will be little logic in such a rating, and a lot of your personal worldview.
Let's wait for the administration's decision: will they use the existing system, announce a competition, or choose their own?
But what you are proposing now, in my opinion, is absolutely not viable.